The Hindu Business Line : Paswan rules out Salem Steel privatisation

THE Union Minister for Chemicals, Fertilisers and Steel, Mr Ram Vilas Paswan has ruled out the privatisation of the public sector Salem Steel Plant (SSP) and he assured the SSP employees that they need not worry on that count.

Mr Paswan who made a visit to the SSP on Saturday and held discussions with the plant officials said since the Steel Authority of India's (SAIL) had touched the streak of profit earning and SSP is part of the SAIL, there was no need of privatising the SSP.

SSP itself had during the fiscal 2003-04 recorded a profit of Rs 1.92 crore, he said adding that his Government was opposed to privatisation of the public sector.

Talking to press persons during the plant visit, Mr Paswan also said that the Centre would actively consider and come out with a `good decision' on the demand by the public and the SSP employees to set up a steel melting plant (SMP) for the Salem Steel Plant estimated to cost Rs 400 crore so that the plant's efficiency could be further strengthened.

Mr Paswan also hinted on the possibility of the Steel Ministry setting up a vigilance committee akin to the one that was formed for the coal sector that enabled greatly bringing down the role of middlemen. This helped the coal sector to show turnaround.

We would have to see whether the same could be tried for the steel industry too, he added.

The Minister during his visit presented one-time bonus of Rs 1000 each to the SSP workers for the profitability the plant achieved this year.

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