Former union ministers react on Visakhapatnam Steel Plant privatisation

Hyderabad: Creation of separate Visakhapatnam Railway zone has already been announced and the now it is an administrative issue which is being pursued to take it to its logical end. The Ministers responding to the issues of Visakhapatnam Railway zone and privatisation of Visakhapatnam Steel Plant expressed allayed the fears of any injustice to the State of Andhra Pradesh. Suresh Prabhu said that the creation of Visakhapatnam Railway zone has been already announced. What remains is the administrative decision. And, "being the MPs from the Andhra Pradesh will be pursuing it," he added.

Regarding the privatisation of the Visakhapatnam Steel Plant, Suresh Prabhu said privatisation will not result in any desirable results. When it comes to Public Sector Undertakings (PSUs), the President of India holds shares on behalf of the people of India. The share for investment in the PSUs was raised through the budgetary provisions. And, "people being shareholders should get either dividends or shares from which they get profits," he said.

Srujana Chowdary said that the idea of government not to engage in business has come from the master policy initiated from the '90s. "We need to respect the people who had scarified their live in the agitation of Visakha Ukku-Andhrual Hakku."

However, the public sector had come forward to set up the steel plan in 1971, when there was no private sector coming forward with such capital. When the economy and technology is increasing a policy decision has been taken in line with the master policy. However, privatisation shall not mean that the steel plant can be taken anywhere from Visakhapatnam. Nor, will the employment opportunities will be deprived, he added.