SAIL pulls out of ISA following price row

New Delhi, May 4 : In its bid to distance itself from the controversy over price hike, government-owned Steel Authority of India Ltd (SAIL) today pulled out from the Indian Steel Alliance (ISA) stating it has “outlived its utility”. ISA is an umbrella body of leading steel-makers, including JSW, Essar and Ispat, offering them a common platform for policy decisions.

Recently, leading steel makers were blamed by the Government of forming cartels to jack up prices taking advantage of rising demand. “We felt that ISA needed to do more on promoting steel use and sharing of data between utilities, a function which is now being performed efficiently by INSDAG,” a SAIL spokesman said.

Tata Steel had also withdrawn from the alliance some time back. The ISA has been spearheading the campaign against government’s move to set up a regulator in the steel sector to monitor prices and imposing export duty on steel. Meanwhile, a senior official of another state-owned steel-maker Rashtriya Ispat Nigam Ltd said his company is also planning to pull out of the Indian Steel Alliance. When contacted the official said, “We are planning to pull out of ISA.”

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