Steel Executives' Federation moots merger of Steel PSUs

Consolidation in business peripherals and activities of SAIL, RINL, NINL, NMDC and MECON is needed to give edge over competitors, SEFI General Secretary Bimal Bisi said.

The national executive council of the Steel Executives Federation of India (SEFI) has recently passed a resolution seeking strategic merger of the steel public sector units in the country.

ROURKELA: General secretary of Steel Executives’ Federation of India (SEFI) Bimal Bisi on Monday shot off an e-mail to the Prime Minister’s Office (PMO) suggesting a merger of all steel PSUs and urged the PMO to facilitate the release of arrears of steel executives. 

Bisi, who is also the executive member of the National Confederation of Officers’ Association, said a holistic approach is needed for benefit of the Central Public Sector Enterprises with the country poised to become a 5 trillion economy.

Consolidation in business peripherals and activities of SAIL, RINL, NINL, NMDC and MECON is needed to give edge over competitors. After the merger, the conglomerate’s combined capacity would increase to 30 million tonne per annum crude steel, he said. 

These PSUs continue to contribute immensely to the national exchequer. Despite the pandemic-induced slowdow, they together produced more than 35 MTPA of crude steel. Yet SAIL’s existing and former employees are deprived of their legitimate pay revision from January 2017, Bisi added. ENS