Lok Sabha Debates
Regarding Allocation Of Captive Mines To Rashtriya Ispat Nigam Limited. on 22 March, 2021
Seventeenth Loksabha > Title: Regarding allocation of captive mines to Rashtriya Ispat Nigam Limited.
SHRI JAYADEV GALLA (GUNTUR): Rashtriya Ispat Nigam Limited (RINL) is a jewel of AP as it is not only providing employment to tens of thousands of people directly but also providing indirect employment to as many people. Apart from this, RINL is the result of a prolonged struggle and sacrifice of many people and villages. Now, Union Cabinet has decided to privatize this plant which is not acceptable.
Main reasons behind RINL’s losses are that it is not having captive mines and it has taken loan due to GOI’s failure to infuse capital at an exorbitant rate of 14%. Raw material expenditure of RINL was 65% in 2018-19 when compared to SAIL’s 48% and TATA’s 35%. It is because RINL buy coal from open market; whereas, SAIL and TATA have captive mines.
I strongly feel it is the failure of successive Governments to allocate captive mines to RINL. Hence, I request GOI to immediately allocate captive mines to RINL.