Former Minister Gudivada Amarnath has stated that the privatization of the Vizag Steel Plant was stopped due to the opposition of the YSR Congress Party (YSRCP). He emphasized that their leader, Y. S. Jagan Mohan Reddy, has consistently opposed the privatization of the steel plant from the beginning. Amar Nath also praised the YSRCP for standing by the workers of the steel plant during the crisis.
He mentioned that the plant was facing severe financial distress, unable to even pay off its debts. Amarnath revealed that a resolution was passed in the assembly opposing the privatization, which was subsequently sent to the central government. He added that the package offered by the central government would only cover the plant’s debts.
Questioning the Modi government, Amarnath asked why the Modi package was not announced during the Vizag meeting. He raised concerns over the ulterior motives behind the package and demanded tax holidays for the steel plant. Furthermore, he called for the allocation of captive mines for the plant and insisted that the plant be merged into the sale process.
