London protest on Phulbari Day demands delisting of GMC from the London Stock Exchange

London protest on Phulbari Day demands delisting of GMC from the London Stock Exchange (Click to enlarge)

Press release from the National Committee to Protect Resources of Bangladesh - UK branch

A vibrant rally and meeting was held on 26 August in front of the London Stock exchange, demanding the delisting of Global Coal Management (GCM, formerly trading as Asia Energy) for alleged fraudulent activities in Bangladesh.

The rally was held on Phulbari Day amidst social distancing and a strict police presence.

Phulbari Day commemorates the brave martyrs - Tariqul, Al-amin and Salekin - who were brutally gunned down by Bangladeshi police in 2006 while peacefully protesting against GMC's plans for an opencast mining operation in Phulbari.

London protest on Phulbari Day demands delisting of GMC from the London Stock Exchange (Click to enlarge)

The mine would have displaced 40,000 people from their land according to GMC's estimate, it is alleged, and displaced up to half a million people, by other estimates.

At the protest, Member Secretary of the UK branch of the National Committee to Protect Resources in Bangladesh, Dr Akhter Sobhan Masroor, laid the blame for the brutal repression and killings in Phulbari on GMC.

He also reiterated the demand for the company to be delisted since they were trading without any legal or valid contract with the Bangladesh government.

On behalf of the protesters, a memorandum was submitted to the Chief Executive and Chief Financial Officer of the London Stock Exchange: David Schwimmer and David Warren.

London protest on Phulbari Day demands delisting of GMC from the London Stock Exchange (Click to enlarge)

It contained a number of demands, including the immediate cessation of trading by GMC and an independent and impartial inquiry into their financial dealings.

Other speakers denounced the role of GMC and other multinational corporations which pursue their commercial interests to the detriment of people's lives, livelihoods and the environment.

See the full press statement in English and Bengali, and a video at https://www.facebook.com/National-Committee-to-Protect-Resources-of-Bangladesh-UK-Branch-100980838404961

The rally was jointly organised by National Committee for Protection of Oil, Gas (UK Chapter), Global Justice Rebellion and Coal Action Network. A solidarity programme was also organised by Phulbari Coalition.

Contact:

Akhter S Khan

Member Secretary

National Committee to Protect Resources in Bangladesh

[email protected] / [email protected]

See also 'Protesters fight coal mining project in Bangladesh' at socialistparty.org.uk

Donate to the Socialist Party

Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.

Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.

We therefore urgently appeal to all our viewers to click here to donate to our Fighting Fund.