The Central Government’s decision to privatize the Vizag Steel Plant to sell off yet another Navaratna PSU, anticipating benefiting capitalists above the workers has led to massive protests.
Visakhapatnam: The land of the Vizag (Visakhapatnam, Andhra Pradesh) Steel Plant is an estimated Rs. 50,000 crores. In 2009, Prime Minister Manmohan Singh and Chief Minister YS Rajasekhar Reddy started the expansion of the Vizag Steel Plant.
Over 1 lakh people are directly dependent on this steel plant for their livelihood, built by Prime Minister Indira Gandhi 50 years ago, on the demands made by the people of Andhra Pradesh for a Steel Plant.
Srivatsa Y B, Indian Youth Congress National Campaign Head ·said, “Modi Govt’s decision to privatize the Vizag Steel Plant is to finish yet another Navaratna PSU to benefit Cronies. Modi has not been allocating ore mines to PSUs to ensure they become loss-making & then to privatize them. 33,000+ workers held a protest against Modi yesterday. (sic)
Modi Govt's decision to privatize the Vizag Steel Plant is to finish yet another Navaratna PSU to benefit Cronies.
Modi has not been allocating ore mines to PSUs to ensure they become loss making & then to privatize them.
33,000+ workers held a protest against Modi yesterday. pic.twitter.com/CpbBNHlKAy
— Srivatsa (@srivatsayb) February 6, 2021
“We have been left with no option but to fight it out till the Centre withdraws the proposal,” D Adinarayana, a trade union leader, said.
Yesterday there was a massive protest in Vizag over the proposed privatization of the city’s iconic Vizag steel plant. VSP made good profits every year. Then this Govt came. And it started incurring massive losses. It was being prepped for this fire sale. #VisakhaUkkuAndhrulaHakku
Yesterday there was massive protest in Vizag over the proposed privatisation of city's iconic Vizag steel plant.
VSP made good profits every year. Then this Govt came. And it started incurring massive losses.
It was being prepped for this fire sale. #VisakhaUkkuAndhrulaHakku pic.twitter.com/KBheuWNwTY
— Kannan Gopinathan (@naukarshah) February 6, 2021
Vizag Steel Plant made excellent profits with soaring revenues every year and observed that only over the last few years did it start incurring massive losses.