Financial Daily from THE HINDU group of publications
Wednesday, Mar 23, 2005
Financial Daily from THE HINDU group of publications Wednesday, Mar 23, 2005 |
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Opinion
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Letters Steel price rise
Major car makers have announced an increase in prices to cover the rising cost of steel. Small and medium sector companies are helpless as they rely on local merchants for their supply of steel. They face the twin problems of soaring steel prices as well as shortage of the metal. Moreover, last point dealers are hording steel and selling it at sky-high prices. While the price of most products have some regulating authority, there are no such checks in place between the last-point steel merchant and the industry. When the government can rationalise duties on crude to cushion the impact of petrol price hike, why are they mute spectators to the continuing sharp steel price increase? If steps such as reduction in excise, customs and state levies coupled with price control at the last point of sale are not taken immediately it will adversely affect our GDP. Sushil Mehra Bangalore Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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