SAIL and RINL are the only two steel-making PSUs under the administrative control of the steel ministry with a cumulative production capacity of around 27 million tonne per annum.
The Appointments Committee of the Cabinet (ACC) on Friday cleared the appointment of Anil Kumar Chaudhary as the chairman of Steel Authority of India (SAIL). The prime minister-headed panel has also approved Pardosh Kumar Rath’s appointment as the chairman and managing director of another state-run steelmaker, Rashtriya Ispat Nigam (RINL).
SAIL and RINL are the only two steel-making PSUs under the administrative control of the steel ministry with a cumulative production capacity of around 27 million tonne per annum. Both the firms were running without their regular heads for the last couple of months following superannuation on May 31, 2018 of the incumbents in the respective organisations.
While Chaudhary has been serving in SAIL as finance director, Rath has been RINL’s operations director. According to a government order, both will hold their positions till their superannuations.
While SAIL was being steered in the interim by an additional secretary in the steel ministry, RINL’s commercial director P Raychaudhury was holding the additional charge since incumbent P Madhusudan’s retired.
Government head-hunter Public Enterprises Selection Board (PESB) had in March this year had recommended Chaudhary as the chairman of SAIL. Rath was shortlisted for RINL CMD in the same month as well.
Though the performance of both the firms have started improving in recent past, they are far from being in the pink of their health. RINL posted an operating profit only after two years in 2017-18 at `332 crore. During the same year, SAIL reported a `482-crore loss. However, in the first quarter of the current fiscal, both SAIL and RINL were in the black.