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  Business   Companies  24 Jul 2017  Govt sets up panel to improve SAIL's fortunes

Govt sets up panel to improve SAIL's fortunes

PTI
Published : Jul 24, 2017, 8:11 pm IST
Updated : Jul 24, 2017, 8:11 pm IST

SAIL had reported a loss of Rs 771.3 crore for the quarter to March 2017.

 A panel has been set up to improve financial health of SAIL and help the country's largest steelmaker boost output.
  A panel has been set up to improve financial health of SAIL and help the country's largest steelmaker boost output.

New Delhi:  A panel has been set up to improve financial health of SAIL and help the country's largest steelmaker boost output.

The committee consists of officials from the steel ministry and technical experts, among others, Minister of State for Steel Vishnu Deo Sai said in a written reply to the Lok Sabha on Monday.

 

"A committee comprising members of the Ministry of Steel, PSUs and technical experts has been set up for revival of Steel Authority of India Ltd (SAIL) and Rashtriya Ispat Nigam Ltd (RINL)," the minister said.

The terms of reference include chalking out a plan with focus on higher production, sales and improving financial health of SAIL. The technical experts will come up with specific measures to improve SAIL units.

Due to the government's initiatives in 2016-17, SAIL could increase its domestic sales to 12.43 mt in 2016-17, from 11.9 mt in 2015-16, registering a growth of 4 per cent.

SAIL had reported a loss of Rs 771.3 crore for the quarter to March 2017.

 

Tags: steel authority of india ltd, steel ministry, parliament
Location: India, Maharashtra, Mumbai (Bombay)