Friday, May 26, 2017

Air India in bad shape, admits Minister

NATIONAL carrier Air India has seen good days, but is impoverished now, Union Minister for Civil Aviation Ashok Gajapathi Raju told NDTV on May 25. he added that when NITI Aayog said Air India may be the first public sector unit to be up for disinvestment, no one at his ministry was surprised. Full privatisation is also an option being considered...

Thursday, May 25, 2017

SAIL, ArcelorMittal JV to be finalised this month: Steel minister

THE much-awaited ArcelorMittal and SAIL joint venture (JV) is in final stage and the project may be finalised this month. This was stated by Union Minister Chaudhary Birender Singh. He said this while addressing media on three years initiatives and achievements of the steel ministry.
The proposed joint venture (JV) between world's largest steelmaker ArcelorMittal and domestic steel giant...

Wednesday, May 24, 2017

Ailing PSUs costing Uttar Pradesh’s exchequer: CAG

NON-performing public sector undertakings (PSUs) in Uttar Pradesh, mounting arrears and gross anomalies in the power sector are bleeding the state’s coffers dry, the Comptroller and Auditor General (CAG) has pointed out.
A report by the country’s top audit body, tabled in the just-concluded session of the Assembly, shows tardy...

Tuesday, May 23, 2017

GAIL to get new energy route for India with US shale gas

GAS Authority of India Limited (GAIL) will open a new energy route for India early next year by beginning regular imports of shale gas from the US, adding to India's bargaining power with its West Asian suppliers.
The PSU will begin importing gas in ships under a long-term contract from Dominion Cove Point LNG (liquefied natural gas) project from March 2018 and has floated tender...

Monday, May 22, 2017

Steel PSUs must compete with private players: Minister

TALKING tough on performance of steel PSUs, Union STeel Minister has said that these PSUs are not holy cows and should step out of their comfort zone to perform and compete with private players, Steel Minister Chaudhary Birender Singh said.
"I have told my PSUs, especially those that produce steel, that there is a new environment where PSU is not a holy cow. You should perform and compete with your private players," the minister said in an interview to PTI.
The minister cautioned that the PSUs cannot afford to sit on their laurels in the changing scenario in the world.
"So, either perform or perish," Singh said, in a blunt message.
The PSUs should diversify their activities and go for high-end steel production, Singh suggested.
"Diversify your activities, go for high-end steel production and also...

Saturday, May 20, 2017

Who will be the next ONGC CMD? 30 in fray for the top job

NEARLY 30 candidates including Oil and Natural Gas Corp (ONGC) director Shashi Shanker and Oil India director Biswajit Roy have applied for post of CMD of ONGC.
At the close of application for the job last week, nearly 30 candidates applied for replacing the current CMD Dinesh K. Sarraf. Sarraf will retire on September 30 this year. The candidates are being screened and the shortlisted will be...

Friday, May 19, 2017

Govt to NITI Aayog: Draw roadmap for Air India revival

IN A serious bid to bring ailing Air India back on track, the government has asked NITI Aayog to come out with a road map for ailing Air India, which may include recommendation for a strategic sale. A media report quoting sources said the NITI Aayog is looking at various options and will submit its recommendations in the next few weeks after which the government will take a final call on the way forward.
This is seen as the most serious effort being launched by the NDA Government to...

Thursday, May 18, 2017

Finance Ministry to mull for 3-4 more PSB mergers: Report

CLOSE on the heels of the successful merger of subordinate banks of SBI, the country's largest lender, the finance ministry hopes that there is scope of merger among three to four more public sector banks. Media reports say the government will work on a twin-pronged strategy...