INSUBCONTINENT EXCLUSIVE:
Vijayawada: The AP Assembly passed a resolution opposing the privatisation of Visakhapatnam Steel Plant (VSP)
The Minister for Industries, Mekapati Gautam Reddy, proposed the resolution and it was passed unanimously.Moving the resolution, Gautam
Reddy stated that thinking about the level of sensitivity of the concern and prevalent agitation by the trade unions and common public
versus the divestment proposition, the Federal government of AP had actually acknowledged the need for supporting the cause of protecting
Rashtriya Ispat Nigam Limited, the corporate entity of VSP, from disinvestment
He remembered that, accordingly, Chief Minister Y.S
Jagan Mohan Reddy resolved an in-depth letter dated 06.02.2021 to the Prime Minister with a request to reevaluate the proposal of
He likewise recommended alternative solutions that might be practical to deal with the problem of big losses sustained by RINL
He further recalled that the CM also repeated the stand of AP government throughout his interaction with the trade unions in Visakhapatnam
The markets minister Reddy specified that the Cabinet deliberated on the issue at the council meeting on February 23 and kept in mind of the
discontent among the trade unions and the general public of Visakhapatnam
In this regard, the cabinet proposed to place the matter prior to the Legislature and make a resolution.On the alternative solutions
suggested by the state federal government to solve the issue of substantial losses incurred by VSP, he discussed that the federal government
suggested continuing the operations to achieve turn-around, allocating it a captive iron ore mine to minimize input expenses, and extending
it financial restructuring short-term loans
He stated that recently VSP had actually been at the forefront of the nation's battle versus Covid-19
It already provided more than 9,000 tonnes of liquid medical oxygen (LMO) given that the start of pandemic
The Minister said the Assembly all made the resolution to oppose the decision of the Cabinet Committee on Economic Affairs (CCEA) for 100%
strategic disinvestment of Federal government of India's shareholding in RINL, together with ceding management control by method of
The Assembly also dealt with to seek the assistance of GoI to make RINL profitable and stay the pride of Telugu Individuals and the state of
