CHENNAI, November 7: Employees of Videsh Sanchar Nigam Ltd (VSNL) have decided to take mass casual leave on November 11 as a mark of protest against the government dragging its feet in allotting shares of the telecom giant to its employees.

International telephone and data communications to and from the country is expected to be paralysed on the day of the protest.

The issue came up for the first time at the time of disinvestment of VSNL shares in 1992. Government guidelines providing for allotment of 200 shares to employees at reduced rates when shares of public sector enterprises are disinvested in the market. According to a media release, this provision was not extended to the employees of VSNL and since then the employees have been demanding the allotment. Later in 1995, the then chairman of the Telecom Commission assured the agitating employees shares in the company at the rate of Rs 185 per share and requested the employees to stop their agitation in view of the GDR issue.

But after the successful issue, the government backtracked on the pricing and said the shares would be issued to the employees at 15 per cent below the market price of Rs 900, which worked out to a cost of Rs 765 per share.

Protesting against this stand, the employees of VSNL decided to go on mass casual leave on November 11 apart from a token strike on November 19. If their demands are not accepted, the employees plan to go on an indefinite strike from November 26.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.