Sri Lanka- Escalating Conflict


two consecutive years of losses, SAIL did end up with a profit in 1984-85. Had SAlL's capacity utilisation been better in 1982-83 and 1983-84 its finances would have been better too. Then there would probably have been little justification for the rise in steel prices last year, or at any rate the steep hikes. In this context it is not very surprising that, given the high level of capacity utilisation in the current year, the Union Minister of State for Steel and Mines categorically assured the Parliamentary Consultative Committee of his ministry on May 15 that there would be no hike in the price of steel for the next twelve months.