The Central government has approved 26% strategic sale of the Public Sector Bharat Earth Movers Limited (BEML) as part of the privatisation program.
At present the government controls 54% of the shares of the company. If the strategic sale is carried out, the company will go into private hands.
BEML is a profit making company which has manufacturing units in Bengaluru, Mysuru, Chikmaglur, and Kolar in Karnataka, and Palakkad in Kerala. It supplies equipment to defence, mining, railways and infrastructure. It has been manufacturing the metro coaches of the Bengaluru metro. BEML has over 2000 permanent workers and about 1500 workers on contract.
Workers of BEML have declared their total opposition to this move. The Communist Ghadar Party of India condemns the Central government for this anti-worker, anti-social and anti-national move.