Union Cabinet okays special package for VSP

The cash-strapped Visakhapatnam Steel Plant is likely to get a huge special package from the Centre as the Union Cabinet, which discussed the crisis in the plant at its meeting on 16 January, decided extend a helping hand to the steel giant.

It is learnt that the Centre decided to come to the rescue of the plant by offering a Rs 11,500-crore special package for the organisation which is in deep crisis. According to reports, the Union Cabinet approved the special package proposal.

Hailing the Union Cabinet’s approval for the special Visakhapatnam steel plant revival package, VMRDA Chairman Pranav Gopal said it shows the commitment of the Alliance government to the protection of the steel plant.

In a statement, Pranav Gopal thanked Chief Minister N Chandrababu Naidu, Deputy Chief Minister K Pawan Kalyan and IT and HRD Minister Nara Lokesh on behalf of the people of North Andhra for their efforts to save the steel plant.

CITU flays VRS decision

Meanwhile, the CITU has called for intensification of the agitation against the VSP privatisation.

The CITU, at its meeting held in Visakhapatnam on 16 January, decided to rope in other steel plant unions in the movement.

Addressing the gathering, Tapan Sen, all-India general secretary of the CITU, alleged the recent decision of the plant management to introduce VRS was a part of the Centre’s plot to privatised the plant.

He observed that allotment of own iron ore mines to the plant was the only solution to the present crisis.

The meeting passed a resolution seeking allotment own iron ore mines and merger of the VSP with SAIL.

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This article is written by Senior Journalist Lakkoju Nagesh Babu