Salient features of privatized
The Salient features of privatized are:
(1) Pay revision (PRCs) will not apply to NTPC. ‘Planned pay revisions’ will stop.
(2) No job security Pink slip culture will come, u may come in the morning and u may be told u are not required in company, go to HR and clear ur dues and don’t come from tomorrow.
(3) Electricity, House may no longer be subsidized/free in townships (why would it be as shareholders will want to maximize profit and reduce such freebies).
(4) System of IPDs/OPD in and Hospitals in the township may be abolished, and a Medical insurance cover may be implemented whose yearly premium only company pays. (as in private company) only for critical illnesses. [Reason: same as precious].
(5) NEFI, Unions will cease to exists automatically, as management is no longer required to discuss with representatives of his crucial decision, as a private company it can decide whatever it wants for welfare for his shareholders.
(6) No SC/ST reservation in recruitment. No proportionate promotions in clusters, No SC/ST quota in House allotment, etc. for obvious reasons.
(7) Brain drain Quality of new recruitees may deteriorate. As Job security benefit no longer prevail, a good engineer will prefer to join ‘ private company’ in metro cities Delhi, Bangalore, Pune, Noida, etc) or companies with a chance of foreign assignments, instead of a ‘private company’ with locations at some of the remotest industrial sites in India. Similarly, attrition from the company will increase. Increase workload, gate regulations of plant time, random transfers, no vigilance /CVC applicability on employees will be other ‘non-tangible’ features.
(8)The government, however, is reluctant to give up its role of owning and controlling economic activities. At the same time its inability to spend on providing minimum health and education services. It is eager to spend on higher education without spending enough on primary and secondary education. It has failed in providing a corruption free administration, an essential precondition for increasing competitiveness.
There are many more Salient features of privatized but these are the top Salient features of privatized.The success of the economic reforms depends upon the commitment of all concerned – people, political parties, bureaucracy, and government – to the socio economic progress of the country