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Appointments Committee of Cabinet's nod to SAIL board rejig
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SME Times News Bureau | 25 Sep, 2020
In a bid to bring in decentralisation and better decision- making in the
state-run Steel Authority of India Ltd (SAIL), the Appointments
Committee of the Cabinet (ACC) has approved the restructuring of the
company board.
An official statement said on Friday that the four
posts of the Chief Executive Officers of Integrated Steel Plants of
SAIL will be elevated as Functional Directors, by designating them
Directors-incharge of Bokaro, Rourkela, Bhilai Integrated Steel Plants
and one in charge jointly for Burnpur and Durgapur plants.
"The
approved restructuring of the SAIL Board also involves merging the
functions and duties of the post of Director (Raw Materials and
Logistics) and that of Director (Projects, and Business Planning) with
the post of Director (Technical) and its consequent re-designation as
Director (Technical, Projects and Raw Materials)," said the Ministry of
Steel's statement.
The restructured board of directors will
consist of Chairman, Director (Finance), Director (Commercial), Director
(Technical, Project and Raw Materials), Director (Personnel),
Directors-incharge of ISPs, Non-official Directors as per the Companies
Act, 2013 and two directors nominated by the government as per the DPE
policy.
It noted that the restructuring of the board will
facilitate greater decentralisation and fast decision-making with the
Directors-incharge of plants as direct ACC appointees, with their views
having weight in the central corporate governance structure.
This will also facilitate speedy modernisation and expansion program of SAIL, the statement added.
SAIL
has a vision of reaching 50 million tonnes of capacity through
brownfield/greenfield expansion and this input has also been considered
while formulating the National Steel Policy 2017, which envisages 300
million tonne capacity in the country by 2030-31.
"Directors-incharge
of ISPs would in turn be critical in having the corporation respond
with agility in a globally challenging environment," it said.
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