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A combine of trade unions comprising INTUC, AITUC and STU at the State public sector Traco Cable company will launch an indefinite fast before the company unit at Irumpanam in Ernakulam, Kerala, from Wednesday (December 11, 2024).
The employees’ unions are demanding that the government maintain the cable-making company in the public sector, ensure timely payment of salaries and early clearance of statutory payments.
P. Unni, an employee of the Traco Cable unit near Kochi, was found dead at the end of November after apparently being driven to despair about the financial condition of the company, which had not paid salaries for about a year now.
Addressing a press conference here on Monday (December 9, 2024), the trade union leaders appealed to Industries Minister P. Rajeeve to use the money being given to Infopark to take over Traco Cable units to support the cable-maker directly and help it overcome the present financial crisis.
Traco Cable, which was launched near Ernakulam in 1964, is today an important PSU in Kerala, said a trade union leader.
The unit operated in profit until 2016-17 and has since been in serious financial trouble, bringing up a total loss of ₹245 crore so far.
Govt, management blamed
The employees blamed the government and the management for the current state of affairs, particularly for the condition in which employees who have put in two or three decades of service are forced to retire without pension and other benefits.
The combine also said that the land on which Traco Cable’s Irumpanam unit is located is a commercially important plot of 35.5 acres from where there is easy access to the Seaport-Airport Road, Kochi Metro and Water Metro. The State government and the management of the cable-maker are “in collusion” with private parties who have their eyes on the land, it said.
The trade union (CITU) representing the ruling party is also trying to protect the government, alleged leaders of the combine.
Published – December 09, 2024 04:23 pm IST
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