image

Parliamentary Consultative Committee of Ministry of Steel

The Union Minister of Steel, Shri Beni Prasad Verma has said that India continues to hold the 4th position in global crude steel production for the past 3 years. Chairing the meeting of the Parliamentary Consultative Committee attached to his Ministry here today, he said that the Crude Steel production in India has grown by 4.3% in 2012. He also said that capacity of steel production in the country has increased from 66 million tonnes in 2009 to about 90 million tonnes in 2012. The functioning of Steel Authority of India Limited (SAIL) was the agenda of the meeting.

Shri Verma apprised the committee members that the Per capita steel consumption has risen to 60 kg in 2011-12. The Minister stressed on the importance of conserving raw material resources in the country and elaborated on the measures taken by the Government.

SAIL, a Maharatna PSU under the Ministry of Steel, is today the 7th World Class Steel Maker as per World Steel Dynamics. SAIL™s production of Saleable Steel has been 12.4 million tonnes, which is 112% of rated capacity. SAIL has five integrated steel plants that are undergoing expansion and modernization, the expansion activities of Salem Steel Plant of SAIL have already been completed.

The members were briefed about the global and domestic steel scenario, functioning of SAIL and its performance on various parameters. Details of marketing initiatives and modernization and expansion plan were also discussed. They were informed that the company achieved profit after tax of Rs. 2170 crore during the year 2012-13. Some of the members complimented SAIL on its working, while some expressed concern over the progress of expansion plan and profitability of the company.

Members of Parliament who attended the meeting; Shri Devji M. Patel, Shri Gorakh Nath Pandey, Capt. Jai Narain Prasad Nishad, Shri Jayawant Gangaram Awale, Shri Jitendra Singh Bundela, Shri Naranbhai Kachhadia, Shri Premchadra Guddu, Shri Rakesh Sachan and Shri Shivarama Gouda from Lok Sabha, Shri Nandi Yellaiah and Shri Tapan Kumer Sen from Rajya Sabha, Smt. Jhasi Laxmi Botcha, Shri Mithlesh Kumar, Shri Premdas Katheria, Shri Naresh Agarwal and Shri Sabir Ali were the special invitees.

The Secretary, Ministry of Steel, Shri D.R.S. Chaudhary and other senior officials of the Ministry, CMDs of Steel Public Sector Undertakings also attended the meeting.

Tags: Cabinet of IndiaGovernment-owned corporationIndiaJai Narain Prasad NishadMember of ParliamentMinistry of SteelSteelSteel Authority of India Limited

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates