Mumbai: Unit Trust of India (UTI) officers are planning to form an association to protest against the proposed privatisation of UTI-II.

According to a UTI official, officers, particularly those in charge of the US-64 scheme, have been expressing concern over the government decision to privatise UTI-II. They fear privatisation will lead to retrenchment of employees.

Officers in UTIs Belapur office near here held a meeting on 24 September 2002 to protest against the government decision. But office work was not affected as officers resumed duty immediately after the meeting, add the official. The government had assured earlier that there would not be any retrenchment of UTI employees.