Centralised marketing operations of steel PSUs mooted to help VSP tide over losses

In an effort to mitigate losses faced by Visakhapatnam Steel Plant (VSP), a proposal for centralizing the marketing operations of steel Public Sector Units (PSUs) is being considered. The strategy aims to boost efficiency and market reach by consolidating efforts across different PSUs. VSP, like many other steel PSUs, has been struggling due to high input costs, subdued demand, and stiff competition. Centralizing marketing is expected to help VSP expand its customer base and streamline operations, thereby improving financial performance. The move is part of broader efforts by the government to revitalize struggling PSUs and enhance their competitiveness in the global market.