Thread by @astitvam

VISL a century old steel company started by Sir M Vishveshvarayya is pride of Karnataka facing a crisis of disinvestment today. Please go through the thread to understand the problem.
#VISLonDeathBed

Bharata Ratna Sir M V was president of this institution who had worked relentlessly to bring this factory on profit line. Up to 1970 this was making profit and in 1989 Ktk govt sold 60% share to SAIL at a throwaway price to manage the then crisis.
#VISLonDeathBed

The first two years after major takeover the company made profit in spite of the global money crunch. Inspired by this SAIL went ahead and bought all the shares. Ktk govt waved off electrical bill and the interest on the loan as a good gesture.
#VISLonDeathBed

SAIL lost interest afterwards and VISL started sinking. No new technology was introduced some times they even tried failed technology. In 2013 SAIL wanted to collaborate with others just 2 save their faces. But met with unprecedented reactions took bk d decision
#VISLonDeathBed

At the same time SAIL had invested 20k cr in ISSCO, 2.5k cr in Selam steel plants. Even neglected by SAIL this VISL was making least loss of them all! Why have they neglected? Any vested interests?
#VISLonDeathBed

In 2015 the then Minister Narendra Tomar promised of 1k cr investments if VISL gets mines from the Ktk govt. Obviously in a hurry to protect the interests of the people VISL pleaded the Ktk govt to get 140 acres of mines at Bellary!
#VISLonDeathBed

*140hectares
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But nothing happened in reality. In 2018 steel minister Chaudhari Birendra Singh assured of 6k cr for VISL which will be utilised for the upgradation of the capacity of d factory!
Sorry. Nothing happened 😞
#VISLonDeathBed

At present VISL has 60 metric tons of finished goods which amounts to 300cr rupees unsold! VISL kept demanding for the authority of sale which is with Central marketing Organisation now. Why they are not selling the product is a million dollar question.
#VISLonDeathBed

McCON India has done a survey and given a report. If 1297cr invested VISL will give 15% returns. And 3297cr investments will take the returns to 22%. That is to say VISL can still be taken to the positive side of the sin wave!
#VISLonDeathBed

We have just one question @narendramodi ji. After buying the company with thousands of promises SAIL till now has invested only 157cr into VISL. Without trying a bit if they want to disinvest now will that not affect the livelihood of the people here?
#VISLonDeathBed

D people of Ktk have sacrificed everything for this.
1. Shares at Lowest price
2. Waive off electricity bill
3. Waive off interests on loan
4. Sanctioned mines near Sandur
But not an iota of response by SAIL. Please review d decision and give us a chance 2 rebuild
#VISLonDeathBed

Definitely we thank @BSYBJP and @BYRBJP for raising this issue regularly on the national platform. But the voice need to be big now. Let all the 28 MPs of Ktk gather forgetting their parties to save the pride of Karnataka!
#VISLonDeathBed

@dpradhanbjp ji VISL is not just a steel plant but it’s pride of Karnataka. Before disinvesting invest first please!
#VISLonDeathBed