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This story is from April 11, 2008
'Government monitoring steel prices'
Steel minister Ram Vilas Paswan on Thursday said his ministry is monitoring steel prices and necessary steps would be taken if it is found that prices have risen more than the input costs.
NEW DELHI: Steel minister Ram Vilas Paswan on Thursday said his ministry is monitoring steel prices and necessary steps would be taken if it is found that prices have risen more than the input costs.
"I have already written to the Prime Minister suggesting certain steps to contain the recent rise in steel prices. If it is found that steel makers have increased prices more than the rise in input costs then necessary steps would be taken to contain the same," he said.
The minister reminded that the proposal to set up a regulator to monitor steel prices was very much on the table and measures would be initiated as and when felt necessary by the government.
Paswan had asked Prime Minister Manmohan Singh to consider setting up a regulator which, among other things, would routinely monitor steel prices. Besides, he had suggested abolishing import duty, imposing 10% duty on exports of the alloy and re-classifying steel as an essential commodity.
Paswan has favoured imposing an ad-valorem export duty on iron ore.
"I have already written to the Prime Minister suggesting certain steps to contain the recent rise in steel prices. If it is found that steel makers have increased prices more than the rise in input costs then necessary steps would be taken to contain the same," he said.
The minister reminded that the proposal to set up a regulator to monitor steel prices was very much on the table and measures would be initiated as and when felt necessary by the government.
Paswan had asked Prime Minister Manmohan Singh to consider setting up a regulator which, among other things, would routinely monitor steel prices. Besides, he had suggested abolishing import duty, imposing 10% duty on exports of the alloy and re-classifying steel as an essential commodity.
Paswan has favoured imposing an ad-valorem export duty on iron ore.
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