RINL privatisation: TDP MLA Srinivasa Rao resigns in protest

TDP leader G Srinivasa Rao onSaturday said he has resigned as an MLA from the AndhraPradesh assembly in protest against the Centre's decisiontoprivatise Rashtriya Ispat Nigam Limited (RINL) steel planthere.

Srinivasa Rao, who represents the north assemblyconstituency in Visakhapatnam, said the resignation letter wassent to the Speaker.

Meanwhile, all trade unions affiliated to the steel plantand civil societiescontinued their stir againstthecentralgovernment's move toprivatise the steel plant,one of the oldest here, for the secondday.

The Union Cabinet has cleared the privatisation ofsteel-maker RINL, Department of Investment and Public AssetManagement, Secretary Tuhin Kanta Pandey tweeted on February3.

The RINL strategic sale proceeds would be part of thedisinvestment target for next fiscal.

The government has budgeted Rs 1.75 lakh crore fromdisinvestment in 2021-22 fiscal beginning April 1.