A Committee was constituted by the Ministry of Steel to study in detail four PSUs under the Ministry of Steel viz. KIOCL, MSTC, HSCL and FSNL to suggest strategies to achieve sustainable profit and to make suitable recommendations for improving the financial position and viability of these four PSUs as well as reorganization with a view to optimizing their efficiency and profitability. The Members of the Committee were S/Shri P. Ganesan, ex-CMD, KIOCL (Chairman), K.L. Mehrotra, ex-CMD, MOIL, L. Siddhartha Singh, Director, Ministry of Steel, and Mukhmeet S. Bhatia, Director, Ministry of Steel.
The Committee made a detailed study, including field visits, of these four organisations. The Committee deliberated on the business models, physical and financial performance over the years, capital structure, revival models and other related issues. The Committee submitted its report to Minister for Steel Shri Virbhadra Singh here today in the presence of Sri A. Sai Prathap, Hon’ble Minister of State for Steel and Shri P.K. Rastogi, Secretary, Ministry of Steel.
This study is part of the ‘100 Day Agenda’ of the Ministry of Steel.
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