Employee and retiree groups of Rashtriya Ispat Nigam (RINL), the corporate entity of Visakhapatnam Steel Plant, have urged the Centre to expedite the release of pending salaries and employee- welfare payments, despite the company reporting a turnover of Rs 36,363 crore over the last two years.
The appeal was made through a representation addressed to the Prime Minister’s Office and shared on social media by employee collectives, including VizagSteelFamily.
The employee groups claimed that the steelmaker has sufficient financial resources to clear the outstanding dues. According to the representation, the plant saves around Rs 55 crore every month on wage-related expenditure, has an emergency reserve fund exceeding Rs 900 crore and maintains a liquid cash balance of Rs 195 crore.
Despite these reserves, the associations alleged that several employee-related payments remain pending. These include salaries of regular employees, full and final settlements for beneficiaries under the VRS-2 and VRS-3 schemes, and pension payments to family members and widows.
The employee groups argued that the company’s operational performance and available reserves should enable it to meet these financial commitments without further delay. They questioned why employee-welfare payments continue to remain unsettled despite the enterprise’s reported revenues and cash position.
Retired employees and the families of deceased employees have also joined the demand, calling on the Central government to direct the management to release all pending payments at the earliest.
The appeal has brought renewed attention to employee welfare and financial settlements at the state-owned steelmaker, with stakeholders seeking quicker resolution of long-pending dues.
