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Cabinet Gives In-Principle Approval To Privatise Rashtriya Ispat Nigam: Union Organized Protest

The Cabinet Committee on Economic Affairs has given in-principle approval to privatise Rashtriya Ispat Nigam Ltd. The government currently holds 100 per cent stake in the maker of crude steel. The PSU, that is a corporate entity of Visakhapatnam Steel Plant, comes under Ministry of Steel. CCEA, in its meeting on January 27, approved strategic divestment of government’s 100 per cent shareholding in the company along with management control, DIPAM Secretary tweeted. Meanwhile On Wednesday morning over 1,000 employees and workers of the Visakhapatnam Steel Plant held a protest demonstration in its premises against the Centre’s attempts to privatisate the plant’s corporate entity – Rashtriya Ispat Nigam Ltd (RINL). The recognised workers union of the steel maker has called for a dharna on February 5, urging all its workers, employees and political parties to assemble at the Greater Visakhapatnam Municipal Corporation office in Andhra Pradesh’s Visakhapatnam.

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