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Panel set up to improve financial health of loss-making SAIL: Minister

SAIL was found to be less efficient than rivals despite spending more than $10 bn in past 8 years

Reuters  |  New Delhi 

India has set up a panel to turn around loss-making Steel Authority of India Ltd (SAIL) and help the state-owned company increase production, Minister of State for Steel Vishnu Deo Sai said in the lower house of Parliament on Monday. Reuters reported in March that an expert panel was set up to revive SAIL after a government review found the company to be far less efficient than its rivals despite spending more than $10 billion in the past eight years. "The terms of reference of the committee include chalking out a plan with focus on increasing production, sales and improving ...

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First Published: Mon, July 24 2017. 18:33 IST