A tweet which led to a yearlong agitation
A tweet by the Secretary of Department of Investment and Public Asset Management (DIPAM) on February 3, 2021 disclosing the in-principle decision to privatise Rashtriya Ispat Nigam Limited (RINL)-the largest industry in Andhra Pradesh with an estimated asset value of over Rs.1 lakh crore 4-has forced the employees to go on agitation for a year in a Gandhian way.
image for illustrative purpose
Visakhapatnam A tweet by the Secretary of Department of Investment and Public Asset Management (DIPAM) on February 3, 2021 disclosing the in-principle decision to privatise Rashtriya Ispat Nigam Limited (RINL)-the largest industry in Andhra Pradesh with an estimated asset value of over Rs.1 lakh crore 4-has forced the employees to go on agitation for a year in a Gandhian way.
The tweet stated that "CCEA (Cabinet Committee on Economic Affairs) on 27th Jan 2021 has given in-principle approval for 100% strategic disinvestment of GOI shareholding in RINL along with management control by way of privatisation." DIPAM, which comes under the Ministry of Finance, is mandated to mop up resources under the disinvestment plan of the BJP-led NDA Government.
The tweet which was greeted with shock and disbelief brought all the rival trade unions to a common platform. They formed Visakha Ukku Parirakshana Porata Samiti to fight an agitation peacefully. Their relay hunger strike here completed one year and to mark the occasion, 365 workers with 365 flags sat on a daylong hunger strike at the Kurmannapalem protest camp on Saturday. The samiti has called for 'Jail Bharo' agitation on Sunday. It has plans to organise Visakhapatnam bandh and collect one crore signatures for submission to the President of India.
Chief Minister Y.S. Jagan Mohan Reddy had written a couple of letters to Prime Minister Narendra Modi to withdraw the decision to privatise and put RINL back on right track by granting capite iron ore mines, pump in cash flow to meet working capital crunch by selling away of surplus lands and exploring IPO option.
Samiti chairman Ch. Narsinga Rao told Bizz Buzz that they would intensify the agitation to pressurise the Centre to withdraw its decisions.
INTUC leader Neerukonda Ramachandra Rao said come what may, they will not allow any prospective buyer or their representatives to visit Visakhapatnam to value and the assets and liabilities of the steel plant, which was set up after 32 protesters laid down their lives in police firing during the 'Visakha Ukku Andhrula Hakku' agitation.
Though talk of disinvestment by offloading stake of 10 percent was in the air for the past several years, none thought that the government would dare to hand over the entire public sector unit to private hands. RINL has its headquarters in Visakhapatnam, a high stake in a mining company in Odisha and a joint venture with Railways in manufacturing forged wheels in Rae Bareli in Uttar Pradesh. RINL, the corporate entity of Visakhapatnam Steel Plant has a capacity to produce 7.3 million tonne per annum.
