Lok Sabha Debates
Regarding Disinvestment Of Rashtriya Ispat Nigam Ltd (Rinl). on 3 August, 2021
Seventeenth Loksabha an> Title: Regarding disinvestment of Rashtriya Ispat Nigam Ltd (RINL).
SHRI RAM MOHAN NAIDU KINJARAPU (SRIKAKULAM): The Centre seems to be bent on selling RINL. But RINL is not a sick unit, it has only been forced to bleed due to high interest rates and lack of captive mines, a long-pending demand. Instead of addressing these issues, the Centre is taking a very unwise decision of selling a strong PSU which is in steel-making, a strategic sector. I request to stop facilitating China’s dominance in the global steel market by stopping 82% exports from going to China. Instead, that iron ore be given to RINL in the form of captive mines. Why is RINL being treated in this manner while a state PSU like GSPC was rescued by ONGC! Union govt owns VSP on people’s land & due to the historic agitation in which Telugu lives were lost, the government can't forget that it was built on the lands given by the Telugu people.