ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Setting SAIL on Difficult Passage to Recovery

There are only two possible ways of looking at the future of SAIL and of its constituent units. One is to separate out businesses that can survive and flourish in the current competitive environment and leave the basket cases for the surgery and intensive care they urgently require. The other is to pretend that nothing very much is wrong with SAIL which cannot be rectified by some thousands of crores of budgetary appropriations, dressed up as capital expenditure. If in the interim SAIL collapses, as Indian Iron has effectively done, that can be written off as one more victim of upstart reformist ideas.

SAIL, if we may recall, was created as a holding company in the mid-1970s following on the amalgamation of Hindustan Steel’s (HSL) tonnage plants at Bhilai, Rourkela and Durgapur, an alloy steel unit also at Durgapur, an ill-fated international steel trading company (SAIL International), and the newly established Bokaro Steel. Subsequently, Indian Iron, which had been earlier nationalised, was brought in as a subsidiary company of SAIL and other odd bits and pieces like Vishvesarya Iron and Steel were added on along the line.

Public Sector in Steel

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