Jalandhar: Criticising the UPA (United Progressive Alliance) Government for not increasing the rate of interest on Employees' Provident Fund (EPF), CPI (Communist Party of India) today (Nov 3, 2004) said it would launch a mass agitation to demand an immediate increase in the interest rate.

"Due to the anti-employees policies of previous NDA (National Democratic Alliance) Government, rate of interest on EPF was reduced from 12 per cent to 8.5 per cent. Left parties urged the UPA Government for substantiate increase in EPF interest rate and even the Prime Minister promised to give active consideration to the proposal, but it was regretted to note that nothing was done in this direction," national general secretary of Communist Party of India, A B Bardhan told reporters in Jalandhar.

Bardhan said the issue will also be raised in the forthcoming coordination committee meeting.

"We also want that the priority should be given for land re-distribution, irrigation projects and steps should be taken to ensure that farmer should get adequate priority as per the common minimum programme," he added.

On oil prices, Bardhan said we have urged Centre to avoid any further price hike. "There is one good development, that oil prices has come down and there is a possibility of its further coming down after the American Presidential poll."

Welcoming the Lucknow High Court decision issuing notices to senior BJP (Bharatiya Janata Party) and Shiv Sena leaders including former Deputy Prime Minister L K Advani and Bal Thackeray, in the Babri Masjid demolition case, Bardhan said as they were allegedly present at the time of demolition, their role should be appropriately probed.