CPI (M) criticizes state government. via Gangavaram Port sale

The State Secretary of the Communist Party of India (Marxist), Penumalli Madhu, has criticized the state government’s decision to part with its 90 percent stake in Gangavaram Port, which is linked to the Visakhapatnam Steel Mill (VSP).

Speaking at a press conference here on Wednesday, Mr Madhu said that while the state government appeared to be opposed to the privatization of the VSP, it was astonishing that it parted with its stake in the port, which, like all raw materials, is an integral part of the VSP and Finished products are handled here.

“Why is the government so determined to sell its stake in Adani, who has acquired the 10% stake in the port of Gangavaram from DVS Raju”, asked Madhu and threatened a nationwide strike if the state government did not reverse its decision Port.

The Adanis have already taken control of the ports of Krishnapatnam, Bhavanapadu and Machilipatnam, and Chief Minister YS Jagan Mohan Reddy must stop the onslaught of privatization, he said.

“The people voted overwhelmingly for the YSRCP to power in order to have an appropriate state capital and special status so as not to lose their public assets,” he said, adding that the party that after the fork was vocal about the Problems raised, did not take care of them after they came to power.

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