SAIL TAKES STEPS TO IMPROVE
PERFORMANCE
The Steel Authority
of India Ltd. (SAIL) has suffered a loss of Rs.1707 crore during
the year 2001-02. The main reasons for losses incurred by SAIL
are: stagnation in steel consumption due to slowdown in the economy,
low sales realization, sluggish exports due to protectionist policies
of various countries, high capital investment in the modernization
projects leading to increased expenditures on interest and depreciation
and high manpower costs. Government
of India has approved a financial cum business restructuring package
for SAIL in February, 2000. SAIL is currently undertaking the
following steps to improve its performance:
·
Intensive cost control drive which envisages improvement
of yield, reduction in consumption of coking coal and other raw
material, reduction in consumption of power and fuel, reduction
in consumption of stores and spares, improvement in other key
techno-economic parameters etc. ·
Implementation of Voluntary Retirement Scheme (VRS). ·
Market oriented product-mix, increasing sales network and
more focus on customer satisfaction etc. ·
Quality improvement to meet customer requirements and schemes
relating to statutory requirement like safety, environment etc.
· Restriction
on fresh investment proposals except ongoing schemes.
This information was given by the Minister
for Steel Shri B.K.Tripathy in a written reply in the Lok Sabha
today.
