Merge SAIL, NMDC And RINL As A Mega Steel PSU, Demands SEA
The Mega Steel PSU will be able to compete in the international market, argue experts
RINL Vizag Steel Executives’ Association (SEA) organised a session on Importance of Steel under Strategic Sector and Merger of all Steel PSUs. President of the body, Shri Katam SS Chandra Rao presided the seminar and introduced Shri Ashok Rao, Chief Patron and Ex Secretary General of National Confederation of Officers’ Associations (NCOA).
In inaugural speech, General Secretary, KVD Prasad, explained the need for merger of RINL & NSIP (NMDC) with SAIL and keeping Steel Sector in Strategic sector.
Shri Balle Mallayya, General Secretary, told Public Sector Undertakings (PSUs) under the Central Government, only can only generate employment for socially backward communities and can protect reservations in employment.
In his address, the Chief Guest of the function, Shri K Ashok Rao, questioned Government’s decision and asked that while SAIL is going to expand its capacity to 10 MT in coming 10 years by spending around One Lakh Crore Rupees, at the same time, disinvestment of 7.3 MT capacity RINL and 3 MT NSIP(NMDC) for few thousands cores of Rupees, is huge losses to the government and the Nation. If merger all Steel PSUs (SAIL, NMDC AND RINL) as a single Mega Steel PSU, Government shall stand benefited. He further added the benefits of availability of raw materials, export benefits, land availability for immediate expansion of steel production as per National steel policy up to 300 MT.
He said that steel sector should be under strategic sector because massive investments by Government in Railways, National Infra Projects, Expansion of High ways, Housing, Infra for Tourism Development and also global scenario after Ukraine war. If this sector goes to private hands, steel will become too costly in future. He further demanded that Steel being an essential component in the growth rate and contributes heavily to the GDP of our country and this is more that reason why it should be kept under Strategic Sector of the Nation. Therefore, the bigger entity of RINL-SAIL-NMDC combined, will also be able to compete in the international market.
He also mentioned India has survived during economic crisis and recent Covid because of public Enterprises. He briefed that how the European union and US are suffering because of Ukraine war and India has been able to sustain even in these times.
He questioned the government and Management decision that not operating full capacity of RINL after spending of 20 thousand cores of taxpayers money for capacity expansion to 7.3 million tons and NMDC spending around 22,000 crore on Nagarnar plant with 3 million tonnes per year capacity. He also said that MPs and people representatives should question about Government not providing working capital and not appointing of key Directors and Executive Director positions.
Chandra Venkateswar Rao Vice President has proposed the vote of thanks. This seminar was organised by Narshimham JS, P. Lokesh, Treasurer and members of Executive committee. Large numbers of executives and employees participated in this seminar.