New Delhi: Labour unions on December 16 threatened to go on a lightning strike the day government invited bids for privatising highly-profitable oil public sector undertakings (PSUs) Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL).

Terming the privatisation programme as selling the family silver, the National United Forum Against Privatisation of oil PSUs lashed out at government's plan to sell HPCL saying it ignored the strategic importance of oil PSUs.

A resolution adopted at a joint convention of 20 oil sector unions here gave a call for a 'lighting strike' on the day the government invited bids for selling its shareholding in HPCL and BPCL.

The forum charged government with neglecting the "strategic importance of the oil PSUs in the matter of national security and protecting the economic sovereignty of the country" and resolved to intensify the campaign and agitation to oppose the privatisation move.

Disinvestment Minister Arun Shourie had last week announced that government shareholding in country's second largest oil company HPCL would be sold to a strategic partner while that in BPCL would be offloaded to public.

"The oil and petroleum sector is the most efficient and highest profit-making sector amongst the entire central PSUs in the country. Out of the top 10 profit making CPSUs, five are from oil and petroleum sector alone," the resolution said.

The forum would also present a memorandum to the Prime Minister Atal Behari Vajpayee against the "suicidal" move to privatise HPCL and BPCL, which they said, had contributed to the economic development of the country through generation of employment and regional development.

PTI