The decision to postpone the strike plan was taken in the wake of efforts by the management to refurbish the image of the company after June 13 explosion at the oxygen house of Steel Melt Shop-II which so far claimed 16 lives.

Following June 13 accident claiming lives of 16 employees, various unions of the Visakhapatnam Steel Plant have postponed their proposed strike from June 27 and 28 to July 31 and August 1.

The decision was taken by the Steel Plant Employees’ Union, the recognised union, and other unions at a meeting held here on Monday.

“We have asked the management not to attend the roadshows proposed for the RINL’s Initial Public Offering,” SPEU general secretary D. Adinarayana said.

The decision was later conveyed to the management.

The decision to postpone the strike plan was taken in the wake of efforts by the management to refurbish the image of the company after June 13 explosion at the oxygen house of Steel Melt Shop-II which so far claimed 16 lives.

The blast took place a day after the unions launched a relay hunger strike at Kurmannapalem junction. After the accident, the relay hunger strike was suspended.

The unions including INTUC fear that the decision of the Central Government to hit the capital market to offload 10 per cent of its equity will ultimately lead to total privatisation of the company.

The Cabinet Committee on Economic Affairs has cleared divestment of Rashtriya Ispat Nigam Limited as part of target by the Union Finance Ministry to realise Rs.30,000 crore during current fiscal by selling equity in public sector units.

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