July 25, 2008

AP MP calls for declaring cement and steel as essential commodities

It is reported that Mr K Yerrannaidu Telugu Desam Party leader and member of parliament, in a letter to Dr Manmohan Singh PM Of India, has asked to include cement and steel in the list of essential commodities so that their prices can be regulated.

Mr K Yerrannaidu has also suggested the constitution of a body, on the lines of the Telecom Regulatory Authority of India, to regulate the prices of steel and cement.

He said “These two items are crucial for the poor man and also affect industrialization and construction of major projects, which are totally dependent on steel and cement.”

Mr K Yerrannaidu said from December 2007 to March 15th 2008 the price of steel had increased by 30%, the cost overruns halting several projects. Housing projects meant for the people were also hit. He said on the export policy “The government gives permits to private people to export iron ores to other countries but not to public undertakings.”