Vizag Steel Plant Privatisation Row: CM Jagan Writes to PM Modi to Reconsider
Recently, the Cabinet Committee on Economic Affairs had given in-principle approval for 100% strategic disinvestment of the Centre s shareholding in Rashtriya Ispat Nigam Limited.
A view of Visakhapatnam Steel Plant (VSP) under the corporate entity Rashtriya Ispat Nigam Ltd. Photo: Vizag Steel website
Government07/Feb/2021
Amaravati: Amid growing outcry against the Centre’s move to privatise Rashtriya Ispat Nigam Limited (RINL) which has a steel plant in Visakhapatnam, chief minister Y.S. Jagan Mohan Reddy has written to Prime Minister Narendra Modi to reconsider the decision.
He said the state government is ready to work with the steel ministry to protect the Public Sector Enterprise (PSE), which provides employment to 20,000 people directly and many others indirectly.
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The Union Cabinet has cleared the privatisation of steel-maker RINL, Department of Investment and Public Asset Management, Secretary Tuhin Kanta Pandey tweeted on February 3. The RINL strategic sale proceeds would be part of the disinvestment target for next fiscal.
Since assuming power in 2014, the NDA government had vowed to press ahead with strategic sales, which involves giving up management control, but the process has been hobbled by a string of factors. The government has set a target of raising Rs 2.1 lakh crore from asset sales in state-run companies in the current fiscal but officials reckon that it will be missed by a wide margin.
likud party and a collection of rinl religious parties, and far-right nationalists. and blue and white is a far-more centrist party and is allied with some to the left. the key swing-vote carrier is mr. lieberman in his party, and mr. lieberman has said, i will never sit in a government with the ultra-orthodox and the super nationalists. so bibineeds to find a few people to defect. i think it s going to be very hard. and it s likely he ll have to give back that mandate, the chance to form a government to gantz. and in between, when bibi gives up and gantz takes over, bibi faces a day in court. he ll undoubtedly be indicted on some counts of corruption and malfeasance in government. and what i think gantz is hoping for, fareed, is once bibi, if bibi is indict, that some members of his party might say,