'PSUs should constantly step up productivity'

New Delhi, Sept 2: Steel Minister Ram Vilas Paswan has underlined the need for all public sector undertakings to constantly step up productivity, saying it is "a must under the National Steel Policy".

Mr Paswan, who was reviewing the performance of National Mineral Development Corporation (NMDC) during 2006-07 and the first quarter of the current fiscal here yesterday, asked the company to modernise itself by procuring better equipment to meet the production target set for it.

The public sector company produced 22.92 million tonnes of iron ore earning a cash profit of more than Rs 2,889.89 crore, a record in 2005-06. It gave a total dividend of Rs 359.59 crore to the Government, also setting a new record.

However, noticing a slippage on NMDC's part in meeting its production target in the first quarter of 2006-07, the Minister directed the company to produce 21 million tonnes of iron ore by December 2006.

Appreciating NMDC's performance in 2005-06, Mr Paswan told its management to meet its production target of 27.5 million tonnes for 2006-07 by all means.

He further asked the management to pay better attention to the welfare of tribals living around NMDC's projects as a matter of corporate social responsibility.

UNI