Steel PSUs strategically important for India

Visakhapatnam: RINL-Vizag's Steel Executives Association (SEA) on Wednesday organised a session on 'Importance of steel under strategic sector and merger of all steel PSUs into a giant organisation.'

SEA president Katam S S Chandra Rao presided over the seminar and introduced Ashok Rao, chief patron and ex-secretary general of National Confederation of Officers Associations.

In inaugural speech, SEA general secretary KVD Prasad explained the need for merging RINL and Nagarnar Steel Plant (NMDC) with SAIL and keeping the steel sector in the strategic sector. Association leader Balle Mallayya said public enterprises under the government can only provide employment for socially backward communities and can protect the reservations in employment.

In his address, Ashok Rao questioned the government decision to privatise RINL. He said while SAIL is going to expand its capacity to 10 MT in coming 10 years by spending around Rs 1 lakh crore at the same time RINL with a capacity of 7.3 MT capacity is being sold away under the alibi of strategic disinvestment.

He underlined the need of steel sector to remain in the strategic sector because of massive investments by the government in railways, national infra projects, expansion of highways, housing, infra in tourism development.