PURCHASE OF INTERMEDIATE ROLLS AND WORK ROLLS BY BSL

PURCHASE OF INTERMEDIATE ROLLS AND WORK ROLLS BY BSL

Steel sector is deregulated, where the government’s role is primarily that of a facilitator. This allows steel companies to make independent decisions regarding their operations based on market dynamics and commercial considerations.

Rolls are normally procured in Steel Authority of India Limited (SAIL) through the Centralized Procurement Agency (CPA) on a three-year cycle, pursuant to duly approved Task Force recommendations based on annual production plan of the mills, consumption patterns and the requirement for maintaining circulation norms and safety stock.

Stocks are reviewed by SAIL’s Internal and Government audits wherein stock position and consumption patterns of rolls are examined and appropriate action is taken by SAIL based on audit observations and recommendations.

This information was given by the Minister of State for Steel & Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.