FIVE FOLD GROWTH IN MSTC INTERNATIONAL MARKETING

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The Metal Scrap Trading Corporation (MSTC), Calcutta, a public sector undertaking of the Steel Ministry has earned an income of Rs. 26.72 crore from International Marketing during the year 2002-03 against an excellent MOU target of Rs. 6 crore. This income is five times the income earned from International Marketing last year. This information was given to the Minster for Steel Shri Braja Kirhore Tripathy while reviewing the performance of MSTC during the year 2002-03. The company has achieved a record total sales of Rs. 2662 crore against a target of Rs. 1025 crore. It has earned a gross margin of Rs. 16.65 crore during the year which is almost double the target of Rs. 7.94 crore.

The Minister hailed the performance of the company and asked to fix the 2003-04 target taking into account the actual performance this year. He advised the Ferro Scrap Nigam Limited (FSNL), a subsidiary company of MSTC to function competitively and in a cost-effective manner to retain its area of business.