ILO Convention Concerning Prevention of Major Industrial Accidents Fomally Ratified

Press Information Bureau
Government of India
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ILO Convention Concerning Prevention of Major Industrial Accidents Fomally Ratified

New Delhi : August 7, 2008

The Government has formally ratified ILO Convention No.174 concerning Prevention of Major Industrial Accidents on 6th June, 2008. The Convention will come into force for India on 6th June, 2009. The purpose of the Convention is the prevention of major accidents in factories and industrial establishments involving hazardous substances and limiting the consequences of such accidents. It required the employers to set up and maintain a documented system of major hazard control including emergency plans and safety procedures. The Convention besides providing for responsibility of employers and rights and duties of workers also envisages that the provisions of the Convention should be implemented in consultation with the Workers’ and Employers’ Organizations.

The year 2008 is the Year of Industrial Safety and Health and ratification of the Convention reinforces India’s commitment to achieving high occupational health and safety standards to protect the interest of its workers.

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Press Information Bureau
Government of India
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Government assures BSNL Unions on the IPO Issue Thiru A Raja asks Talks to Continue

New Delhi : August 7, 2008

The Government today asked the state owned telecom operator BSNL and its employees’ Unions to carry forward healthy discussions on the BSNL IPO (Initial Public Offering) issue. Minister of Communications and Information Technology Thiru A. Raja met representative of the Unions and BSNL officials to discuss the matter. He said, the IPO will lead to better social and economic security of employees. The Minister said that the company and the unions should get engaged in rounds of talks in the near future.

Mr. Raja pointed out that the employees will get Employees Stock Option (ESOP) at liberal and concessional rate and will get ownership right in the company. Enumerating the benefits to the employees, he said, if an employee gets 500 shares @ Rs. 10/- his net gain would be about Rs. 1.5 lakh.

Thiru Raja allayed apprehensions of the trade unions regarding the IPO issue and said this would benefit the public sector telecom giant. He underlined that it will reveal real value of the BSNL. It will also help in getting ‘Navratna Status’ for BSNL, which will result in more autonomy. It will increase BSNL rating in national and international markets, which will result in better business negotiations in the competitive environment. The Minister said that the listing of BSNL will require placing of all the accounts of the company in public domain, which will result in transparency and help in better resource management.

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PIB Kolkata