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Centre to engage consultancy firm for steel sector revival

The Union Ministry of Steel will study and solve the issues which have cropped up due to the virus crisis

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Steel industry, Central government, COVID 19, Union Ministry of Steel

The Central government is in the process to engage a consultancy firm to draw an action plan for revival of the domestic steel sector.

Besides, the sector's stakeholders can also provide their suggestions to deal with the issues emerged in the sector post COVID-19 outbreak.

The Union Ministry of Steel will study and solve the issues which have cropped up due to the virus crisis. The ministry understands concerns of the players and has already issued a request for proposal (RfP) to appoint a consultancy, which will prepare an action plan on the same.

The stakeholders from the steel industry are free to provide their suggestions, and assured that the ministry will look into it and try to solve them at the earliest.

The government is already aware of the disruptions which have been caused by the outbreak of the pandemic and accordingly various relaxations have been given to companies across the sectors.

The objective of engaging a consultancy is to develop and implement an action plan to mitigate the impact of slowdown induced by the pandemic.

The selected firm will be responsible to identify challenges arising out of the global pandemic and its impact on the supply chain and cost of raw materials, availability and cost of labours, domestic and international demand, supply of finished iron & steel and logistics.

The action plan is to be developed and implemented within a time-frame of 12 months from the date of signing the contract.

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