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Industry & Economy
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Steel
`Steel cos must not be profiteers'
New Delhi, April 18
The Commerce and Industry Minister, Mr Kamal
Nath, today said that the rise in steel prices was not
backed by adequate rise in input prices and that the
Government did not want steel companies to profiteer.
"We want steel companies to make profits, but do not
want them to profiteer. Steel prices have gone up
substantially and this is demonstrated by the balance
sheet of the steel companies," Mr Nath told reporters on
the sidelines of the first ISS-Citi India Global Forum here
on Friday.
Asked whether the Cabinet Committee on
Prices (CCP) will meet soon to decide steps to tame steel
prices, Mr Nath said there may not be a CCP at all as
there is such a lot of confusion. "There are different
opinions (amongst Ministries), there are pros and cons on
everything, and one cannot look these issues in isolation,"
said Mr Nath. - Our Bureau
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