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RINL privatisation: YSR’s bid to convince Centre on divestment

Despite the letter written by the CM against privatisation the meetings between him and representatives of Posco, South Korean steel giant held last year have left the employees unions uneasy. They had vehemently opposed the entry of Posco into any joint venture with Rashtriya Ispat Nigam Limited which runs the steel plant.

Statesman News Service | Hyderabad |

After CM YSR Jagan Mohan Reddy’s letter to PM Narendra Modi to reconsider the decision to privatise Vizag steel plant, YSRCP today attempted to pressurise on local BJP and Jana Sena leadership to convince Centre against the proposed 100 per cent disinvestment of the steel plant.

Despite the letter written by the CM against privatisation the meetings between him and representatives of Posco, South Korean steel giant held last year have left the employees unions uneasy. They had vehemently opposed the entry of Posco into any joint venture with Rashtriya Ispat Nigam Limited which runs the steel plant.

YSRCP minister Avanti Srinivas today addressed a protest rally organised by all unions of the steel plant at BC Road, Pedagantayada and urged BJP and Jana Sena leaders to put pressure on the Centre to withdraw the decision to privatise the steel plant.

While BJP ally Jana Sena chief Pawan Kalyan today left for Delhi to discuss about current political situation as well as Vizag steel plant which is regarded as symbol of Telugu pride and aspirations BJP’s Andhra leaders too have informed the Centre about the strong sentiments of the people against privatisation of the steel plant.

Describing the steel plant as “jewel of Andhra Pradesh” CM Reddy also urged Modi to take measures for financial restructuring easing the burden of debt servicing.

Even BJP leaders and sympathisers in the state have suggested looking at alternatives including merging RINL with SAIL or NMDC in order to save the steel plant.

Denied special status and other promises made by the Centre, the decision to privatise the steel plant has not gone down well with the common people as students as students are making initiatives to form joint action committees to begin agitation against the privatisation move.