The central government has once again made it clear in the parliament that the privatization of the Visakhapatnam steel plant is certain.Union Finance Minister Bhagwat Kishan Rao Karad recalled that the Andhra Pradesh government had asked the Union govt to reconsider its decision.
But, the Union govt had decided to privatize the Vizag steel plant.The Union minister said this while responding to TDP MP Kanakamedala Ravindrakumar in the Rajya Sabha.
The Union Cabinet Committee on Economic Affairs has decided on January 27, 2021, to privatize the Visakhapatnam Steel Plant.However, the AP government has written to the Union govt to withdraw its decision.
In response, the Union govt made it clear to the AP govt saying, “The committee has approved the sale and privatization of 100% of the shares of Visakhapatnam Steel plant,” Karad said.
Speaking on this occasion, he said, “We have released a new ‘Public Sector Enterprise Policy’ with the approval of the Union Cabinet.
According to these policies, the Vizag steel plant should either be privatized or shut down.The withdrawal of Central Government shares in the Visakhapatnam Steel plant will bring maximum investment into the company.Production and productivity will increase.It also results in direct and indirect employment opportunities.Earlier, we made this clear to the state government,” the minister said.