Metal PSUs may be asked to post prices online

NEW DELHI: The government plans to direct all public sector units manufacturing steel and other non-ferrous materials to display the prices of their products on their website. It will be also be mandatory for the PSUs to upload the price variations within 24 hours. The move is aimed at bringing more transparency as there have been complaints that website prices and actual charges vary a lot.

The government feels that displaying the ���real-time��� prices will benefit Indian engineering units and small and medium enterprises as it will provide a parameter that can measure the difference in prices offered by state-owned units and their competitors. Though PSUs like SAIL and Nalco upload prices on their website currently, the actual cost of purchase tends to be higher.

The government has now suggested PSUs should not only display the actual cost but also put the available stock information. The PSUs will now need to update their website within 24 hours of any price changes and once the system is perfected the price variation should be updated instantaneously. ���It will be of help to consumers as they���ll have the latest details on pricing and stock availability. Further, if changes in prices are immediately put on the website the consumers can make informed decisions,��� an official said.