Govt to act tough on cartelisation in steel: Nath
The government said it will come down heavily on cartelisation of steel producers and freight operators, and hoped the Competition Commission of India, which is to become operational soon, will help stop these malpractices.
By PTI |
NEW DELHI: The government on Saturday said it will come down heavily on cartelisation of steel producers and freight operators, and hoped the Competition Commission of India, which is to become operational soon, will help stop these malpractices.
"The CCI is falling into place. There is cartelisation taking place in the country in freight rates and steel prices. This is happening... government has to respond commensurately," Commerce and Industry Minister Kamal Nath said at a Ficci function here.
He said the government will take measures to stop cartelisation across sectors. He asked the industry to inform the government about the difficulties arising from increase in prices in certain sectors.
Last month, anti-monopoly watchdog MRTPC directed a probe by its investigative unit DGIR after it got input on price rigging in the steel sector.
The government has already taken various measures to control the rising inflation, the latest being withdrawal of export incentives on primary steel products. Inflation has touched 40-month high of 7.41 per cent.
"The CCI is falling into place. There is cartelisation taking place in the country in freight rates and steel prices. This is happening... government has to respond commensurately," Commerce and Industry Minister Kamal Nath said at a Ficci function here.
He said the government will take measures to stop cartelisation across sectors. He asked the industry to inform the government about the difficulties arising from increase in prices in certain sectors.
Last month, anti-monopoly watchdog MRTPC directed a probe by its investigative unit DGIR after it got input on price rigging in the steel sector.
The government has already taken various measures to control the rising inflation, the latest being withdrawal of export incentives on primary steel products. Inflation has touched 40-month high of 7.41 per cent.
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