TDP MLA resigns in protest over move to privatise RINL

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Visakhapatnam, Feb 6 (PTI): Former Minister and Telugu Desam legislator G Srinivasa Rao on Saturday said he has submitted his resignation from his post in protest against the Centre's decision toprivatise Rashtriya Ispat Nigam Limited that has a steel plant here.

Rao, representing the north Assembly constituency in Visakhapatnam,said the resignation letter has been sent to the Speaker of the House.

Meanwhile, all trade unions affiliated to the steel plant and civil societiescontinued their stir for the secondday today protesting against themove toprivatise the steel plant.

The Union Cabinet has cleared the privatisation of steel-maker Rashtriya Ispat Nigam Ltd (RINL), DIPAM (Department of Investment and Public Asset Management) Secretary Tuhin Kanta Pandey tweeted on February 3.

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

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