The Telangana IT and Municipal Administration and Urban Development (MA&UD) Minister, KT Rama Rao, has called for the Central government to halt the privatisation of the steel plant located in Visakhapatnam. In an open letter to the Centre, KTR alleged that there is a conspiracy to hand over steel industries to private companies. He questioned why the Union government is not being generous towards Vizag steel plant, which has waived off Rs 12.5 lakhs loans to corporates.
KTR also demanded that the Centre purchase Vizag steel plant products and provide financial assistance to the working capital. He added that the Union government should allocate Rs 5,000 crores to the steel plant and consider merging it with Steel Authority of India (SAIL).
Furthermore, KTR appealed to lakhs of Public Sector Undertaking (PSU) workers to join hands with BRS to stop the sale of PSUs by the Central government. This move by KTR comes amid concerns over the privatisation of PSUs and its impact on job security and industrial growth.
