AP failed to prevent industries from incurring losses: CPI(M)

, 4:51 PM IST

Andhra Pradesh CPI(M) secretary P Madhu today said the state government led by N Chandrababu Naidu failed to prevent existing industries from incurring losses.

“Though AP CM N Chandrababu Naidu (is) roaming all over the world in the name of inviting industries by luring them with huge concessions at the cost of the state, but (he) failed to prevent the existing industries from incurring huge losses and ultimately shut down,” Madhu told reporters on the sidelines the party’s state working committee meeting here.

“Industries like Visakhapatnam Steel plant, Ship yard, Bharat Heavy Industries and others are incurring huge losses and private industries in mini-steel, sugar, ferro-alloys, jute and textiles (sectors) also suffered losses and most of them (have) already closed,” he claimed.

He also said that CPI(M) opposes the forced land acquisition to allocate the same to the “rich industrialists”.

A march to highlight the failures of the state government would be taken out on March 10, he added.