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 Mr P Ganesan ex CMD of KIOCL, Mr KL Mehrotra ex CMD of MOIL, Mr L Siddhartha Singh director of ministry of steel and Mr Mukhmeet S Bhatia director of ministry of steel.
The Committee made a detailed study, including field visits of these four organizations. 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 Mr Virbhadra Singh minister for steel. This study is part of the ‘100 Day Agenda’ of the Ministry of Steel.
Wednesday, September 2, 2009
Report on the restructuring of four PSUs submitted to steel minister
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