VSP issue: YSRCP stages walkout in RS

As the pressure on them to stall the privatisation of Visakhapatnam Steel Plant (VSP) mounted, YSR Congress Party MPs staged a walk-out during a discussion on Mines and Minerals (Development and Regulation) Amendment Bill in the Rajya Sabha on Monday, in protest against the proposed strategic sale of the entire stake of the Union government in the public sector behemoth.

YSRCP Parliamentary Party leader V. Vijaya Sai Reddy said instead of privatising the loss-making Public Sector Enterprises (PSEs), the Centre could restructure them, while pointing out that the PSEs work towards fulfilling the social responsibility (of providing employment) placed on them, whereas the private sector ran with the sole aim of making profits.

He suggested that the left-out mines should be handed over to private companies only after mines were allocated to the public sector. The above Bill had a provision for allocating the mines to private companies for commercial purposes. He also drew the attention of the members to the fact that the special railway zone at Visakhapatnam had not materialised even after seven years of bifurcation.