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Centre makes its stand clear on Vizag Steel Plant, Says RINL Will Be Privatised!
By: Tupaki Desk | 9 March 2021 5:22 AM GMT
The ongoing burning issue in the port city Visakhapatnam has reached the Parliament on Monday, after YSRCP leader, Vizag MP M. V. V. Satyanarayana asked a question whether the Centre has taken issues like job loss and the impact on the stakeholders into consideration or not.
Union Finance Minister Nirmala Sitharaman's reply to the MP's question came as a rude shock and hammer blow to the people and trade unions of the shore city Vizag over the Steel Plant issue.
She said the Rashtriya Ispat Nigam Ltd (RINL) will be privatized and the union government has already taken a decision in this regard.
Talking about the decision to privatise the steel plant, the Finance Minister said, Centre's move to disinvestment equity in the plant will result in capacity expansion and infusion of technology, and better management practices of the plant. The move will lead to higher production and productivity, she said.
Adding further, she said, the Andhra Pradesh government has no power to oppose the centre's decision and extend support to the demand to save the Vizag steel plant from privatisation. The Centre will consult the AP government in specific matters.
Nirmala Sitharaman's sensational statements came when the port city is observing protests against the centre's move to privatise the steel plant that has a rich history of over five decades.
The idea of 100 percent disinvestment of the Union Government's share in Visakhapatnam Steel Plant (VSP) was approved by the Cabinet Committee on Economic Affairs on 27 January this year.
It has to be noted that, earlier last week the trade unions of Visakhapatnam Steel Plant (VSP) have called for a state bandh and the YSRCP government too extended its support for the bandh.
Union Finance Minister Nirmala Sitharaman's reply to the MP's question came as a rude shock and hammer blow to the people and trade unions of the shore city Vizag over the Steel Plant issue.
She said the Rashtriya Ispat Nigam Ltd (RINL) will be privatized and the union government has already taken a decision in this regard.
Talking about the decision to privatise the steel plant, the Finance Minister said, Centre's move to disinvestment equity in the plant will result in capacity expansion and infusion of technology, and better management practices of the plant. The move will lead to higher production and productivity, she said.
Adding further, she said, the Andhra Pradesh government has no power to oppose the centre's decision and extend support to the demand to save the Vizag steel plant from privatisation. The Centre will consult the AP government in specific matters.
Nirmala Sitharaman's sensational statements came when the port city is observing protests against the centre's move to privatise the steel plant that has a rich history of over five decades.
The idea of 100 percent disinvestment of the Union Government's share in Visakhapatnam Steel Plant (VSP) was approved by the Cabinet Committee on Economic Affairs on 27 January this year.
It has to be noted that, earlier last week the trade unions of Visakhapatnam Steel Plant (VSP) have called for a state bandh and the YSRCP government too extended its support for the bandh.
