New Delhi, Nov 4: The ministry of steel wants further rationalisation of excise and customs duties on iron and steel, import duty parity on supplies of domestic steel to mega power and other infrastructure projects, upward revision of DEPB rates to enable enhancement of exports, and protection against dumped imports of iron and steel.In its agenda for the first 100 days of the new Union government, the ministry intends to initiate steps to obtain approval for the implementation of a comprehensive financial and business restructuring plan for SAIL. The restructuring proposal awaits the approval of the minister, after which it would be submitted before the cabinet committee on economic affairs, according to sources in the ministry.
The ministry intends to enter into a joint venture with a Russian company for the revival of Iisco, Burnpur, which is a subsidiary of SAIL.Regarding the sell-off of Rashtriya Ispat Nigam Ltd, the ministry is finalising a proposal to offload 51 per cent of shares.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.