Centre constitutes a committee over privatisation of Visakhapatnam steel plant

The central government headed by prime minister Narendra Modi has taken another step towards privatisation of the Visakhapatnam steel plant. It has set up a committee with several ministries on steel plant privatisation. A study committee has been set up with officials from the Ministry of Finance and Industries.

The committee consists of two chiefs from the steel plant. In addition to taking technical assistance from the Department of Investment Withdrawal, centre is preparing a design on the modalities for privatisation. The committee will study the privatisation of the steel plant and send a report to the centre.

Opposing the privatization of the steel plant, Workers and public associations have been raising concerns for the last few days. Political parties also supported these concerns. However, the center is moving in the direction of its decision.

On the other hand, despite the opposition agitation, the centre has speed up the works for privatisation of Visakhapatnam Steel Plant has and appointed a study committee on the feasibility of privatisation.