Government planning to sell Public Sector Undertakings

Visakhapatnam: Both the Central and State governments have drawn up plans to sell the Public Sector Undertaking (PSU) companies, including the profitable ones to private parties at throw away prices, asserted CITU state general secretary Ch Narsinga Rao and Prof KS Chalam.

They were speaking at the book launch of ‘Prabutvaranga Parisramalanu Kaapadukundam – Visakhanagarani Abhvrudhi Chedam’ (Save Public Sector Companies - Let's Develop Visakhapatnam) brought out by CITU- Vizag unit and Andhra Pradesh Public Sector Coordination Committee, at VJF Press Club here on Sunday.

“The Central government has announced to privatise Vizag Steel Plant, which accrued Rs 2,657 crore loses as the plant was not allotted own mines. Though the Dredging Corporation, which was set up by the Centre with Rs 28 crore in Visakhapatnam, was paying taxes worth Rs 213 crore, the Central government has prepared the ground to sell it at low price,” pointed out CITU state general secretary. Similarly, plans are afoot to give away the 7,560 acres of Visakhapatnam Port to private companies, he noted.

Talking about the HPCL and ONGC merger, Narsinga Rao alleged that the Central government has chalked out a strategy to sell-off these companies to Reliance firm. Despite expanding the HPCL with Rs 21 crore, none of the staff members secured permanent jobs according to their reports, he said.

Later, Prof KS Chalam found fault for giving 43 railway stations to 45-year-long lease rights for private parties and alleged that the government is slowly moving away from the transportation services. They called upon the locals and workers to come forward for protecting the Public Sector Undertaking companies.