Centre denies reports on VSP privatisation, says disinvestment process will continue

In a major twist, the Union Government, in a statement on Friday, made it clear that the process of disinvestment with regard to the Visakhapatnam Steel Plant will continue and there is no question of going back on privatisation. Denying the reports appeared in a section of the media that the Centre withdrew the privatisation move, the Central Government stated that the process of disinvestment would continue.

The statement issued by the Ministry of Steel pointed out that the government and RINL, on their part, have been striving to improve the performance of the steel plant. It was only 24 hours ago the Union Minister of State for Steel Faggan Singh

said in Visakhapatnam there was no plan of the steel plant privatisation right away. He made the remarks while talking to the media after taking part in the Rozgar Mela on Thursday.

Reacting to the remarks of the Union Minister, several leaders of trade unions and political parties hailed it. Leaders of Bharatiya Rashtra Samithi, including Telangana Minister KTR, claimed credit for the backtracking by Centre on the VSP issue. He pointed out that the decision by the Telangana government to take part in the steel plant biddings forced the Centre to rethink on the issue.

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