Visakhapatnam: Asset valuation process will be prevented

Visakhapatnam: Representatives of the Visakha Ukku Parirakshana Porata Committee (VUPPC) and Visakhapatnam Steel Plant (VSP) employees warned the Union government that they would obstruct the process of the asset valuation committee appointed by the Central government for valuing assets of Rashtriya Ispat Nigam Limited (RINL). A dharna was held in front of the steel plant main administration building against the recent development.

In this regard, representatives of the committee handed over a petition to the RINL CMD and the Director (Personnel). Speaking on the occasion, representatives of the VUPPC D Adinarayana, M Rajasekhar and Ch Narasinga Rao said although the Central government had earlier appointed Transaction and Legal Advisors, they would not allow them to enter the plant. Similarly, they warned that the asset valuation committee members will not be allowed to enter the VSP. The VUPPC members mentioned that it was highly objectionable to appoint VSP CMD and director (Finance) as the members of the committee. They recalled that there were no local management representatives in any of the committees appointed earlier by the Central government which had created many obstacles to the steel plant in the past.

Further, the VUPPC members demanded that the local management representatives quit the committee immediately. The dharna was chaired by VUPPC convenor J Ayodhya Ram. Representatives of the VUPPC, presidential secretaries of various departments of the steel plant and a large number of workers were present.