Kolkata, Sep 16 (IANS): Communist Party of India-Marxist (CPI-M) leader Prakash Karat Sunday slammed the UPA government's proposal to disinvest shares in public sector companies, and announced that his party would hold a protest against the move on Sep 20.

Karat, addressing the party's state committee meeting here, said the CPI-M had discussed the issue with other parties and they would hold an all-India protest on Sep 20. If the government presses ahead with its move, then they would intensify their agitation, he said.

He said whenever a public sector unit was making profits, the government would decide to sell its shares, citing the case of NALCO in Odisha.

"Whenever a company is making big profits, they (government) say we will sell shares."

"The government has announced the names of five companies in which they plan to disinvest shares," said Karat, adding that none of the company's workers or trade unionists would accept the move to sell shares.

"I'm sure, none of the workers of these companies, or the trade unionists would accept this. And this has become an important issue...."

"We have discussed with other parties, and announced an all India protest action," said Karat, adding "if the government continues to go ahead with its policies, we will think of intensifying the movement".

The Left parties on Saturday joined hands with non-National Democratic Alliance (NDA) and non-UPA parties to protest against allowing foreign direct investment in retail, disinvestment of PSUs and hike in diesel price along with cap on subsidised cooking gas cylinders.

Parties including the Samajwadi Party (SP), Telugu Desam Party (TDP), Biju Janata Dal (BJD) and Janata Dal-Secular (JD-S) have announced a nationwide protest on Sep 20.

The BJP-led National Democratic Alliance has also given a call for a protest the same day.