AP Assembly Passes Resolution Opposing RIL VSP Privatization
RIL VSP PrivatizationHT

AP Assembly Passes Resolution Opposing RIL VSP Privatization

The Andhra Pradesh Assembly has passed a resolution opposing the privatisation of Visakhapatnam Steel Plant. The Minister for Industries,

The Andhra Pradesh Assembly has passed a resolution opposing the privatisation of Visakhapatnam Steel Plant. The Minister for Industries, Mekapati Mr Gautam Reddy, proposed the resolution and it was passed unanimously. Assembly unanimously made the resolution to oppose the decision of the Cabinet Committee on Economic Affairs for 100% strategic disinvestment of Government of India’s shareholding in RINL, along with ceding management control by way of privatization. The Assembly also resolved to seek the support of GoI to make RINL profitable and remain the pride of Telugu People and the state of Andhra Pradesh.

Moving the resolution, Mr Gautam Reddy said that considering the sensitivity of the issue and widespread agitation by the trade unions and common public against the divestment proposal, the Government of AP had acknowledged the need for supporting the cause of protecting Rashtriya Ispat Nigam Limited, the corporate entity of VSP, from disinvestment. He recalled that, accordingly, AP Chief Minister Mr YS Jagan Mohan Reddy addressed a detailed letter dated 06.02.2021 to the Prime Minister with a request to reconsider the proposal of disinvestment. He also suggested alternative solutions that may be helpful to address the issue of huge losses incurred by RINL.

He further recalled that the CM also reiterated the stand of AP government during his interaction with the trade unions in Visakhapatnam on February 17.

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