Union Government has given a detailed reply on the Vishaka Steel Plant privatization issue. The center claims that the steel plant is having a burden of 7,000 Crore losses to date.
“The production of the steel plant is also low. The financial health of the steel plant is unlikely to change even if it is allotted captive mines,” the reply said.
“Considering all the factors, Privatization is the best available option,” Union Steel Minister, Ramchandra Prasad Singh replied.
This will dash the whatever hopes people of AP. It is known to our readers that the Center has started the process of Privatization already.
Earlier, TDP MPs Rammohan Naidu and Kesineni Nani raked the issue big time in the Parliament.
TDP MP Rammohan Naidu has asked the central government to reconsider the decision. He said that there is a chance of the steel plant becoming profitable if captive mines are allotted.
MP Kesineni Nani said that the steel plant has been achieved by a big movement and it is not right to privatize it. He questioned the privatization of Visakha steel leaving SAIL.
