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Is Visakha steel an excuse for losses? |

Is Visakha steel an excuse for losses? |
Is Visakha steel an excuse for losses? |

Steps towards financial assistance

Two Vaikapa MPs as members of the Parliamentary Committee
Allocation of mines, not focusing on the shortage of coal!

Today – Visakhapatnam

On the one hand, the production is decreasing due to the inability to buy coal.. The labor unions are furious over the parliamentary committee’s report that the steel production capacity of Visakhapatnam has decreased. Focusing on the root of the problem, instead of taking steps towards financial support, Visakha Steel is being criticized for pretending losses.

* Visakha Steel is the largest industry in AP running in the central government sector. The Center is taking steps to privatize an industry like Kalpavriksha, which directly and indirectly provides employment to thousands of people. In the recent reports of the parliamentary level committee, objections have been raised against the statement that ‘due to the low steel production capacity of Visakhapatnam, production has decreased by 2.1% in the steel sector across the country’.

Shortage of coal is one of the reasons: Visakhapatnam Steel has an annual production capacity of 73 lakh tonnes. There are less resources to make 21-22 thousand tons of steel every day. This production is limited to 10-12 thousand tons per day due to lack of raw material only. Last year Visakha Steel’s profit of Rs.950 crore had to be used only for the purchase of coal. At a time like this, the Center should have provided financial assistance but did not take steps in that direction. There are allegations that domestic coal has not been supplied properly for the past year. The labor unions claim that since Mahanadi Coalhills did not provide coal which fetches Rs.3200 per tonne, they had to spend Rs.6-15 thousand and buy it from other centres.

Guaranteed in Padayatra: In 2013, the then committee made two recommendations to allocate mines to the Visakhapatnam Steel Plant and to merge it into Steel Authority of India Limited (SAIL). Before amending the Mines Act, the Parliamentary Committees met and recommended steps to be taken towards allotting mines to Visakhapatnam Steel. However, the allocation of mines did not happen. Visakha Steel has paid approximately Rs.35 thousand crores to NMDC (National Mineral Development Corporation) in addition to iron ore (iron ore) since 2007. The labor unions are questioning that the Center is not thinking in the direction of why the extra money was spent on Visakhapatnam steel unless the money is being used as a profit for the NMDC. Arguments are being heard that if they had thought like that, they would have allocated the mines at that time. Labor unions claim that Chief Minister Jaganmohan Reddy asked for mines for newly laid foundation stone of ‘Jindal’, why is Visakhapatnam not asking for mines for steel. It is reminded that Jagan promised during the padayatra that if Vaikapa comes to power, he will talk to the governments of Odisha and Chhattisgarh and set up steel mines in Visakhapatnam.

If two MPs are members…:

Anakapalli MP BV Satyavathy, Rajya Sabha members Venreddy Prabhakar Reddy and Mopidevi Venkata Ramana have been appointed as members of the parliamentary committee. But this year Mopidevi Venkataramana is not in the current committee. The remaining two members of this committee have not visited Visakha Steel in the last two years with the parliamentary level committee under pressure. The representatives of the trade unions did not discuss the problems and reasons for the decrease in production with the authorities. Last year on December 30 and 31 in Bengaluru, AP members were absent from the conference on steel consumption in South India. At that time there was criticism that an MP did not attend as the CM was on a visit. The MPs who are members of the Parliamentary Committee did not visit the Visakha Plant as a sub-committee.

The article is in Telugu

India

Tags: Visakha steel excuse losses

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