TDP leader Ganta Srinivasa Rao resigns in protest against privatisation of Vizag Steel

TDP MLA Ganta Srinivasa Rao on Friday resigned from his post in protest against proposed privatisation of Visakhapatnam steel plant. Stating that locals cant digest plant's privatisation, Rao called on Andhra Presh Chief Minister YS Jagan Mohan Reddy to pressurise PM Narendra Modi to revoke decision. 

former minister also said that he would launch a n-political joint action committee as a move of agitation asking Centre to roll back its decision to privatize Rashtriya Ispat Nigam Limited that has a steel plant in city. 

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Rao, representing rth Assembly constituency in Visakhapatnam, said his resignation letter has been sent to Speaker of House. Meanwhile, all tre unions affiliated with steel plant and civil societies continued ir stir for two days, in protest against move to privatize steel plant. 

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CM Reddy urges PM Modi to reconsider disinvestment

Earlier in day, CM Jagan Mohan Reddy wrote a letter to Prime Minister Modi, urging government to reconsider its plan of disinvestment of Visakhapatnam Steel Plant. He also suggested immediate measures to opt in order to strengn viability of plant. He contended that plant would become a profitable venture given some support from Central Government inste of taking disinvestment route. 

Visakhapatnam Steel Plant is largest public-sector industrial unit in state creating employment opportunities for close to 20,000 people directly and or indirect employment opportunities in city of Visakhapatnam. It is India's first shore-based integrated steel plant,  Andhra CM said as he expressed his assurance to work in tandem with Union Government to "revive plant for unlocking greater value to society and in particular to people of Andhra Presh."

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Cabinet Committee on Ecomic Affairs (CCEA) has given approval for 100% strategic privatisation of steel-maker Rashtriya Ispat Nigam Limited (RINL) including giving up of manment control by way of privatisation. RINL is a Corporate entity of Visakhapatnam Steel Plant Ltd. RINL strategic sale proceeds would be part of disinvestment target for next fiscal. government has budgeted Rs 1.75 lakh crore from disinvestment in 2021-22 fiscal beginning April 1.

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