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Steel PSUs to be on par with private counterparts in 2018 - Steel Secretary

Steel News - Published on Tue, 02 Jan 2018

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Millennium Post reported that upbeat about the domestic steel industry witnessing a revival in 2017 after a gloomy spell, the steel ministry hopes that PSUs operating in the sector to fare better in 2018 and be on par with private counterparts. Steel Secretary Aruna Sharma said that "So, PSUs will be functioning if not on par but near par with the private sector in the calendar year of 2018.”

Ecstatic about the national steel and a public procurement policies have taken off very well, the secretary said the sector has got a fillip and there is an optimism in the market.

Ms Sharma explained that "We are happy with 2017 because the two things which the ministry was working on i.e. the steel policy and procurement preference policy, have taken off very very well and there are very positive signs about it. The sector has got the boost. The figure itself speaks up themselves that the sector has revived.”

Stating that the companies operating in the steel sector were considering expanding their capacities, she said in the year ahead, the government expected some of the firms to be grounded.

The secretary said that "All the players in the sector are thinking of expansion in there business and expansion in their capacities, which is also a positive sign. And in the coming year, we expect some of them to be grounded so that in the coming two-three years that capacity is added to our sector.”

Ms Sharma also expressed hope that the steel production capacity will be much higher in the next fiscal from the present 126 million tonnes. The secretary said that "So, let's see how we are moving. But, we seem to be progressing quite well till the December figures.”

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Posted By : Nanda Koijam on Tue, 02 Jan 2018
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