VSP privatisation well-considered: Centre
The Hindu
It is as per new policy, it tells High Court
The Union government, in its affidavit on the privatisation of the Visakhapatnam Steel Plant (VSP), has informed the Andhra Pradesh High Court that VSP is not a strategic enterprise as the iron and steel sector has not been classified as “strategic” under the New Public Sector Enterprise Policy for Atmanirbhar Bharat, and that the employees’ rights are not fundamental and not constitutionally mandated as such. The policy provided for privatisation of the Public Sector Enterprises (PSEs) in the non-strategic sectors, wherever feasible, and closure of others, the affidavit said. The decision to privatise the VSP was taken by the Cabinet Committee on Economic Affairs (CCEA) on January 27, 2021, keeping the larger public good in view, and it included the protection of interests of the employees and other stakeholders, the Union government stated. The affidavit was submitted by Assistant Solicitor General N. Harinath on behalf of Rajesh Kumar Singh, Under-Secretary of the Department of Investment and Public Asset Management (DIPAM), in response to a petition filed by V.V. Lakshmi Narayana, former Joint Director of the Central Bureau of Investigation.More Related News