Minister
of Steel, Chemicals and Fertilisers Ram Vila Paswan has
indicated that a National Steel Price Regulatory Commission
may be set up to monitor and fix steel prices,
Speaking to newsmen after the 18th National Steel Consumers
Meeting here, Mr. Paswan said it was felt at the consumers
meet that the import duty on scrap should be abolished from
the present rate of 5 percent.
The minister said that there was a consensus that the import
duty on finished steel should be reduced to 5 percent from
the present rate of 15 percent.
Moreover,The minister said, steel should be exported only
after the domestic demand is fully met.He said steps would
be taken to enhance the annual steel production capacity
from its present level of 35.15 million tonnes to 60 million
tonnes by 2012 and to 100 million tonnes by 2020.
Courtesy: The Tribune.
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