Agitating workers take 'productivity' route to prove Centre wrong

Visakhapatnam: THE employees' unions of the Rashtriya Ispat Nigam Limited (RINL) have hit upon a novel idea to convey the message that the decision taken by the Cabinet Committee on Economic Affairs (CCEA) on January 27 to privatise 100 per cent government-holding in the Navratna company is wrong by working hard to improve its financial results.

Though the Visakha Ukku Parirakshana Porata Committee, a front formed by all the trade unions including Bharatiya Mazdoor Sangh, a member of the saffron brigade, to fight against the privatisation decision, has decided to take an active part in the Bharat Bandh called on March 26 by the farmers' unions against the new farm and labour laws and privatisation of RINL, the corporate entity of Visakhapatnam Steel Plant, the employees have decided not to hamper production. However, the employees will squat on the road after during the shift duty as usual. YSR Congress Party and other parties have extended support to the Bharat Bandh call.

Visakha Ukku Parirakshana Porata Committee chairman and recognised union president J Ayodharam told Bizz Buzz on Thursday that they were working hard to ensure a production of seven lakh tonne worth Rs 3,200 crore to earn a net profit of over Rs 300 crore in March. Finance Minister Nirmala Sitharaman told Parliament recently that RINL's loan liability has increased to Rs 22,000 crore as against assets of Rs 32,000 crore. A Group of Ministers is now studying various modalities to go ahead with disinvestment of RINL.

RINL according to the unions has achieved a net profit of Rs.212 crore in December, 2020, Rs 134 crore in January and Rs165 crore in February. "Despite the turmoil over privatisation decision all over the State after the steel plant was set up as a result of Visakha Ukku Andhrula Hakku agitation in 1960s, we do not want to disrupt the production," Ayodhyaram pointed out.

RINL clocked a turnover of Rs 17,000 crore with a net loss of 3,910 crore during 2019-20. "This year we are narrowing down the net loss to Rs 1500 crore despite the fallout of pandemic and shutting down to two among three blast furnaces from March to November last year," Ayodharam said.

Several experts also felt that only way out to save RINL from privatisation is to ensure capacity utilisation and reduce losses. Former RINL CMD. Siva Sagar Rao said any attempt to hamper production and a law and other problem by the agitators will only help those in favour of selling away RINL, its joint ventures and subsidiaries to private companies.