AAI writes to PMO for resumption of coal supplies

20

New Delhi, Oct 27 | The Aluminium Association of India (AAI) has written to the Principal Secretary to the Prime Minister with an appeal to save the livelihood of over 1 million SMEs and urgency for immediate resumption of coal supplies for survival of domestic industry.

The letter said that since August 21, the industry is getting just 50 per cent coal supplies, which has been drastically reduced to 10 per cent level currently. The industry is struggling to sustain operations with alarmingly depleted coal stocks of only 1.5 to 3 days and is on the verge of stock out.

If coal shortage is not immediately addressed, it may lead to collapse of aluminium industry and associated SMEs. This will lead to risk of livelihood for over one million local people, debt exposure of over Rs 1 lakh crore for banks and additional national forex loss of Rs 90,000 crore, the AAI said.

“In view of the above to avoid closure of aluminium industry and protect lakhs of livelihoods and thousands of SMEs, we earnestly request your kind intervention to normalise the precarious situation with immediate resumption of coal and rakes supply for highly power intensive aluminium industry CPPs for economically viable and sustainable industry operations,” the letter said.

The government has declared aluminium manufacturing to be a public utility service as it is a sector of strategic importance and an essential commodity for diversified sectors crucial for nation’s economy.

Aluminium industry has made investment of Rs. 1.4 lakh crore ($20 billion) to double the domestic capacity to 4.1 mtpa (2nd largest globally) and created over one million livelihoods and 5,000 SMEs.

Aluminium is a power intensive and continuous process industry with no alternative power option. One ton of aluminium production requires 14,500 units of continuous power which is around 15 times in comparison to steel (1,000 Units per ton) and 145 times as that for cement (100 units per ton).

Source: IANS

Next Story

Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

LEAVE A REPLY

Please enter your comment!
Please enter your name here