The lack of attractive offers for the privatisation of the shipyard was proving the General Workers' Union right, it said.

The union said in a statement that it had taken the position that privatisation was not the only viable route and had moved a plan of how the shipyard could be profitably operated. But the government had not wanted to discuss this plan.

The union had also proposed that before deciding on privatisation, the government should contact serious and prospective companies to gauge their interest. This proposal had not been implemented.

The union said it had also insisted that the early retirement schemes should follow and not precede privatisation. But the government had not listened, jobs were lost and more money than necessary was forked out as a result.

Although the union and the government agreed that during the process, the shipyard would remain in operation, it was refusing profitable work and the galvanising plant had closed down.

The union said that the best route for the shipyard could not be found by those who were responsible for its destruction but by the managers and workers who were really versed in the subject.

The union reminded the prime minister that the inquiry that had been launched had not given any results so one was justified in getting suspicious and speculating.

The government's failure in this process did not justify the shipyard's speculation, it said.