Business Daily from THE HINDU group of publications
Wednesday, Jul 19, 2006
Business Daily from THE HINDU group of publications Wednesday, Jul 19, 2006 |
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Steel Government - Policy Govt asks private steel players to check prices Our Bureau
New Delhi , July 18 The Government on Tuesday warned private steel producers to check prices or be prepared for an intervention. "We do not have a steel price control as of now but we have asked the Department to devise ways to check it by talking to the private players," the Union Chemicals Fertiliser and Steel Minister, Mr Ram Vilas Paswan, told reporters here.
Necessary step
He said the move to talk to the private players was necessitated as they controlled about two-thirds of the market while the public sector steel units have only about one-third of the market. "Even if the PSUs lower the steel prices, it would not affect the overall market prices unless the private players lower it and the middlemen are making profit from the price differentials between the PSUs and private players," he said. On whether the move to talk to the private players regarding prices would be the first step towards pricing control, he declined a direct reply, but said, "It is in the interest of the consumers. We keep talking to the private players and last time we had a meeting they agreed to cut steel prices by Rs 2,000 per tonne."
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