Former Union Minister and Samajika Nyaya Abhijan chief Srikant Jena on Sunday severely criticised the Union Government’s decision to withdraw its stakes from the Neelachal Ispat Nigam Limited (NINL).
“The NINL purchases minerals at market price whereas private companies get iron ore at much lower rates. Despite this, the NINL had been incurring profit. As it made a loss of Rs 200 crore once, the Union Government has decided to privatise it by withdrawing 49% stake held by the MMTC. The Naveen Patnaik Government has also welcomed the decision and proposed to withdraw its OMC stake of 29 per cent from the NINL. It is a conspiracy hatched by both the Governments to handover the PSU to a private company,” alleged Jena.
Slamming Union Steel Minister Dharmendra Pradhan for terming the NINL disinvestment as “historic”, Jena wanted to know why a year back he had announced to provide Rs 500 crore for revival of the NINL.
He criticised the Centre for delaying environmental clearance for a captive mine allocated to the NINL in 2013. Jena said the NINL would make huge quantities of profit if it gets Government support.
Stating that the OMC has a surplus capital of Rs 2,000 crore, Jena too urged the State Government to procure the NINL in the interest of the State.
He urged the Congress to raise voice against the decision as the NINL was founded during its regime.
Jena said the Samajika Nyaya Abhiyan would go to people and make them know how the Narendra Modi Government at the Centre and the Naveen Patnaik Government in the State have hatched a conspiracy to hand over the NINL to a ‘friendly’ private company against the interest of people of the State.