The Hindu Business Line : Cost-cutting vital, says VSP chief

Visakhapatnam Steel Plant has wiped out its accumulated losses and emerged as a zero-debt company and efforts are afoot to cut down on costs further, according to Mr Y. Sivasagara Rao, Chairman and Managing Director.

He was speaking at a function in the plant on Monday to mark the inauguration of Finance Week conducted by the Finance and Accounts Department.

He said cost-cutting was crucial in the present competitive scenario.

Mr P.K Bishnoi, Director (Finance), said employees should come out with innovative ideas on cost-cutting.

Mr. K.A Naidu, Director (Personnel), advised the employees to participate in the Intranet survey.

Mr. P.K Mishra, Executive Director (Works) and Mr K.S Sankar, the General Manager (Finance and Accounts), also spoke.

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Cost-cutting vital, says VSP chief