Indian government asks steel makers to keep price steady - 28 Aug, 2008
Statesman News Service reported that in order to ensure the price of steel does not shoot up, Indian government has made an appeal to keep the prices of steel stable and is considering measures to curb the export of iron ore.
Mr Jitin Prasada minister of state for steel while speaking at an interactive session on “Propelling faster growth of steel industry in India” organized by the Merchants' Chamber of Commerce said that "Although we will not interfere in the matter, the government will not allow prices of steel to shoot up and create inflation hurting the common man."
He informed that “Attempts are being made by the government to facilitate the smooth flow of raw materials to the steel producers by reducing the influence of middlemen in the process. Attempts will also be made to resolve the issue of transportation problem of raw materials.”
Mr Prasada pointed out that the price of steel had already shot up because of an increase in price in the international market and the price of raw materials like iron ore and coal has also gone up in recent times.
