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TDP MLA resigns from post against RINL's disinvestment plans English.Lokmat.com

TDP MLA resigns from post against RINL's disinvestment plans

Ganta Srinivasa Rao TDP MLA from Visakhapatnam North constituency has resigned from his post in protest against the Central government's proposal to privatise the RINL (Rashtriya Ispat Nigam Ltd) in the city.
TDP MLA resigns from post against RINL's disinvestment plans

Ganta Srinivasa Rao TDP MLA from Visakhapatnam North constituency has resigned from his post in protest against the Central government's proposal to privatise the RINL (Rashtriya Ispat Nigam Ltd) in the city.

"Locals can't digest plant's privatization. I resigned as a MLA to protest against privatisation. The plant has had losses as it doesn't have its own mines. Chief Minister YS Jagan Mohan Reddy must put pressure on Prime Minister," Rao told .

He said he will launch a non-political joint action committee as a move of agitation asking the Centre to revoke its decision.

"People of Visakhapatnam fought for this steel plant. The steel plant has been incurring losses due to the lack of its own mines. If the central government allocated mines to the plant, it will be in profits. But privatisation is not a solution for the problem," he added.

Meanwhile, Chief Minister Reddy on Saturday wrote to Prime Minister Narendra Modi requesting him to reconsider the disinvestment plans of RINL and explore other opportunities to put the plant back on track.

In a letter, Reddy said the recent decision of the Cabinet Committee on Economic Affairs (CCEA) which has given in-principle approval for 100 per cent strategic disinvestment of the government of India's shareholding in RINL, Visakhapatnam, along with management control by way of privatization has become a cause of concern for the state government.

( With inputs from ANI )

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TDP MLA resigns from post against RINL's disinvestment plans
TDP MLA resigns from post against RINL's disinvestment plans
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