“Divestiture of State Transport-Company Limited…Workers cry for fair deal”, is the headline of the lead story of the Graphic, The story says workers of the State Transport Company Limited (STC), have appealed to the Divestiture Implementation Committee (DIC) to expedite action on the worker-management buy-out bid of the company.
The Graphic says the workers maintained that the restructuring by the board and management has not only restored credibility but it is also ensuring the viability of the company. According to the paper. The workers however, said these positive developments which should encourage the authorities to have confidence in the ability of the present workforce to run the company, have not been reciprocated.
The workers, the Graphic says, claimed that Vanet Consortium Limited which in January 1997, won the tender when the STC was divested by the DIC, and has over the period, failed to raise the required capital for the purchase of the company, has suddenly resurfaced, trying to renew its bid and competing with the joint worker-management venture. GRi
