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Home » IANS » Disinvestment in CEL flayed

Disinvestment in CEL flayed

By IANS
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Ghaziabad, Sep 26 (IANS) A section of Ghaziabad residents on Wednesday denounced the Modi government’s move to privatize the Central Electronics Ltd (CEL), a public sector undertaking in Sahibabad industrial area.

Speaking to the media, social activist and BJP leader Rajendra Tyagi said the central government has proposed to sell the profit-making CEL to private bidders.

In the tender notice, any person or company with a worth of Rs 50 crore can bid for the profit making company which now possesses orders of Rs 950 crore, Tyagi said.

Also present at the press conference were Somnath Bhattacharya, President of the Executive Officers Association of CEL, and Residents Welfare Assocation Federation President Col. Tejandra Pal Singh Tyagi.

Established in 1974, the CEL made a net profit of Rs 21 crore in 2017, Tyagi said.

“We have given representations at every appropriate level but if the government doesn’t agree with us then we will be forced to knock the door of courts,” Tyagi said.

–IANS
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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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