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Andhra Pradesh: Steel Plant Workers Agitate Against Centre s Privatisation Plan
The Centre s decision on 100% disinvestment in Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant, has triggered massive protests in the state.
A view of Visakhapatnam Steel Plant (VSP) under the corporate entity Rashtriya Ispat Nigam Ltd. Photo: Vizag Steel website
Rights13/Mar/2021
Vijayawada: On March 8, Union finance minister Nirmala Sitharaman gave a statement in the parliament on 100% disinvestment in Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP). The announcement has stoked regional sentiment in Andhra Pradesh, triggering massive protests.
In a written reply to a question raised by YSR Congress MP Vijayasai Reddy in the Rajya Sabha, the finance minister declared that the central government will divest 100% of its equity in the RINL along with the the PSU’s stakes in subsidiaries and joint ventures through strategic
‘Mega steel giant formed with mergers can take on China’
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Alternative to VSP privatisation suggested on the lines of joining PSU banks, oil companies
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V.V. Lakshminarayana and former CMD of VSP Siva Sagar Rao at a press meet in Visakhapatnam on Friday.
Alternative to VSP privatisation suggested on the lines of joining PSU banks, oil companies
Before taking the final step to go ahead with the 100% strategic sale of the Visakhapatnam Steel Plant (VSP), the Union government and the authorities concerned should give a thought for its revival, said former Joint Director of CBI V.V. Lakshminarayana.
Strategic sale to be primary mode for disinvestment: Thakur
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Last Updated: Mar 09, 2021, 06:38 PM IST
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Synopsis
Disinvestment of the government s equity in CPSEs depends largely on market sentiment, investor interest, and market valuation of CPSE stocks.
Thakur said adverse market conditions arising due to COVID-19 adversely impacted the government s disinvestment plans.
The scope for sale of minority stakes in public sector companies has reduced and strategic disinvestment would be the primary mode for disinvestment receipts going forward, Minister of State for Finance Anurag Singh Thakur said on Tuesday. In a written reply to Rajya Sabha, Thakur said the government has realised Rs 20,627 crore as disinvestment receipts till March 3, which is around 64 per cent of Revised Estimate (RE) in 2020-21.
Jagan seeks appointment with PM Modi over reviving of steel plant
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CM to bring along an all-party delegation including representatives of trade unions
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CM to bring along an all-party delegation including representatives of trade unions Chief Minister Y. S. Jagan Mohan Reddy has dashed off a letter to Prime Minister Narendra Modi to give an appointment to explain all the options to revive and put Rashtriya Ispat Nigam Limited (RINL), Visakhapatnam back on track.
Mr. Reddy said that he would bring an all-party delegation including the representatives of trade unions to represent directly the concerns being expressed by the people of Andhra Pradesh, employees and various stakeholders.