Rail roko for 9.5 percent interest on PF / Dec 21, 2005 / NewIndPress

From Indiapensions

Rail roko for 9.5 percent interest on PF

VIJAYAWADA: The All-India Trade Union Congress (AITUC) activists on Tuesday detained Howrah-bound East Coast Express at Vijayawada railway station for over 20 minutes by organising rail roko, demanding 9.5 percent interest on Provident Fund.

Employees and workers carrying red flags sat on the rail tracks.

AITUC state secretary K Sekhar Babu protested against the government decision to reduce the PF interest rate to 8.5 percent.

He warned the UPA Government to remember the protest the previous NDA government had faced when a similar step was taken.

Later, it was Prime Minister Manmohan Singh who had restored the 9.5 per cent interest.

This was part of the government's design to amend the trade union Acts to pave the way for multi-national companies, he alleged.

AITUC city general secretary K Durga Rao and vice-president Palla Surya Rao were among those who participated in the programme.