POSCO Boon or Bane book against privatisation of Visakhapatnam Steel Plant launched

Former AU Vice-Chancellor Dr GSN Raju unveiled a book titled 'Posco Varama-Shapama' in Visakhapatnam on Sunday in protest of the Visakhapatnam steel plant being handover to POSCO. On this occasion, the author of the book, CITU State President CH Narasinga Rao said. 'We will prevent the privatization of the steel plant; the central government is maliciously conspiring to privatize the steel plant. The South Korean company is preparing to tie up the Visakhapatnam steel plant with Posco, citing losses," Narasimha Rao said. He further said that the decision not to consult the state government on the steel plant deal is atrocious. "We have achieved a steel plant as a result of many sacrifices. We are going on a massive strike on November 26, "Narasimha Rao said.

Speaking at the event, Steel Plant INTUC General Secretary, YSRCP leader Rajasekhar said, "We will stop the Visakhapatnam Steel Plant from being privatised." The issue of employee retirement should be withdrawn. The existing man power in the steel plant is not adequate and the central government is acting conspiratorially. "There are 18,000 permanent and 18,000 contract employees. Indirectly millions of people depend on this steel plant for their livelihood," Rajshekhar said.

The central government receives Rs 30,000 crore a year in central taxes from the steel plant. The revenue is coming to AP in the form of sales tax. Posco Steel Plant can be set up anywhere other than Visakhapatnam in AP. "In the case of POSCO, some are campaigning against CM Jagan Mohan Reddy for political gain, which should be avoided. This is a conspiracy by the central government," he said. He demanded that the centre take into account over the opinion of the state government.