Visakhapatnam: CPM demands govt to run VSP at full capacity

Visakhapatnam : CPM Visakhapatnam district-wide workers' meeting passed a resolution that the Central government should immediately take steps to run the Visakhapatnam Steel Plant (VSP) with its full production capacity. The meeting unanimously approved the resolution moved by party district secretary M Jaggu Naidu.

Speaking on the occasion, the CPM leaders said while the Union government had invested only Rs 4,980 crore for the establishment of the VSP, the plant has so far paid Rs 50,000 crore in the form of taxes and dividends to the Central and state governments.

They demanded that the VSP, which has assets worth Rs.3 lakh crore and saved thousands of lives in the country by supplying liquid oxygen to Covid-19 patients during the pandemic, should not be privatised.

The CPM leaders alleged that Prime Minister Narendra Modi's government is conspiring to hand over the VSP in favour of private players and mentioned that it would not be allowed.

The Union government intentionally blocked the supply of raw material and railway rakes and deprived the VSP of working capital so that it slips into irrevocable losses, Jaggu Naidu alleged. As part of the exercise, the third blast furnace was closed, he added.

GVMC corporator B Ganga Rao demanded the BJP to stop hatching such conspiracies, withdraw the sale of the steel plant and ensure that the plant runs in its full production capacity and allow public sector companies to bid for the EoI. Party leaders B Jagan, RKSV Kumar, KM Srinivas, Mani and P Pydiraju were present.