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Govt using wage pact, stock scheme to ‘tame’ BPCL employees ahead of privatisation: unions

P Manoj The government is looking to ‘tame’ employees of Bharat Petroleum Corporation Ltd (BPCL) in a bid to check resistance through litigations against the privatisation of the state-run refiner. A long-term wage agreement and employee stock purchase scheme (ESPS) are being used as levers to achieve this goal, say employee unions.

The offer of shares under ESPS is “subject to the applicant not being party to any challenge to the proposed strategic disinvestment of BPCL, whether individually or through any collectives and whether by way of any litigation or by way of any representation/complaint to any authority whomsoever”, says a BPCL document.

Clause 1 (f) of the Memorandum of Agreement (MoA) on wages and other matters signed between BPCL and two unions representing marketing workmen for 10 years, states: “The management reserves the right to review and revisit the MoA once every three years, with first such review due w.e.f. 01.06.2022.”

Source
the hindu businessline
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