Steel minister reviews PSU performance, asks to align business activities to remain competitive

Newly-appointed Steel Minister Ram Chandra Prasad Singh on Monday directed the public sector undertakings under his ministry to align their business activities to remain competitive in the market. He gave the directions while reviewing the performance of Steel Authority of India Ltd (SAIL), NMDC and MECON, through video conferencing.

The steel minister on Monday held a virtual conference with SAIL chairman and CMDs of NMDC and MECON, to review the activities and performance of these state-owned entities, the Ministry of Steel said in a statement.

In the meeting, heads of the PSUs made presentations to inform about their organisation's ongoing activities, projects, financial performance and the way forward, it said.


"While reviewing the performance, the minister appreciated the role and contribution of the CPSEs (central public sector enterprises) in the Indian steel sector.

"He further directed the CPSEs to align their business activities to remain competitive in the market," the Ministry said.

had on Sunday reported that the minister will hold meetings with PSUs under his ministry to review their performance this week.

Besides SAIL, miner NMDC and engineering consultancy firm MECON, there are four other PSUs under the administrative control of the steel ministry.

The other four PSUs are: Rashtriya Ispat Nigam Ltd (RINL), which manufactures steel; MOIL, which is into mining of manganese ore; KIOCL, which is a pellet maker; and MSTC Ltd, which provides e-commerce-related services across diversified industry segment offering e-auction/e-sale, e-procurement services and development of customised software/solutions.