May 17, 2008

Indian government to take all measures to contain steel prices

PTI reported that Indian government will go all out to contain the prices.

Mr RS Pandey secretary steel told PTI that "Steel prices have risen considerably, particularly during the last three months. This is a matter of concern. All possible measures will be considered to address the issue.”

Mr Pandey said that "Steelmakers have cited rising raw material prices as well as the rising international prices as reasons for such an increase. However, there is a need to contain prices which is possible by augmenting supplies through containment of exports.’

He informed that Mr Ram Vilas Paswan steel mister has already told Parliament that the possibility of having a regulator for the sector will also be considered. However, he said it was also necessary that the prices of steel as well as inputs are contained.