RINL privatisation a detrimental step: FSME

Hyderabad: The Federation of Small and Medium Enterprises of India (FSME India) on Thursday said that the decision taken by the central government to privatise Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, would not only hurt the sentiments of Andhra Pradesh people, but would also be detrimental to the interests of the MSME sector.

"Visakhapatnam Steel Plant is the pride of Andhra Pradesh as it came into existence after a prolonged 'Visakha Ukku Andhrula Hakku' agitation. Several people sacrificed their lives during the agitation. Privatising the steel plant will hurt the sentiments of Andhra people," APK Reddy, national president, FSME India and Vice Chairman, South India MSME Joint Action Committee, said in a statement.

Extending support to the Andhra Pradesh government led by Chief Minister YS Jagan Mohan Reddy, trade unions and political parties who are fighting against the Centre's move, he pointed out that the privatisation of public sector units (PSUs) will harm the interests of MSME sector which relies on them for orders.

"MSME entrepreneurs embarked on a prolonged agitation and staged dharnas in 2012 in Hyderabad in united Andhra Pradesh when the then Congress government had imposed power cuts on the industrial sector. Through that agitation, we succeeded in forcing the government to accept our demands," Reddy said.