SAIL top official oppose control regime for steel
A top SAIL management has opposed a move to put the Steel Industry under the price control regime saying it would be a "retrograde" step for the steel sector.
By PTI |
BHILAI (CHHATTISGARH): A top SAIL management on Tuesday opposed a move to put the Steel Industry under the price control regime saying it would be a "retrograde" step for the steel sector.
"We were under the control regime previously, and from there we went to a free economy situation and any steps to put that again to the control regime would be a retrograde step for the sector,'' the Managing Director of the Bhilai Steel Plant R Ramaraju told reporters here today.
Talking about the steep hike in steel price in recent months, he said the consumers are the deciding factor in an open market and let them have a say.
However, due to increase in input cost the prices of all the steel products have increased, the BSP MD said.
Replying to a question he said the BSP has contributed about 50 per cent of the total profit of the SAIL the year, ended March 31 last, and the actual amount would be known once the audited balance sheet is ready for the last fisal.
It was about 46 per cent last year and this year also the profit would more than that, Ramaraju said.
"We were under the control regime previously, and from there we went to a free economy situation and any steps to put that again to the control regime would be a retrograde step for the sector,'' the Managing Director of the Bhilai Steel Plant R Ramaraju told reporters here today.
Talking about the steep hike in steel price in recent months, he said the consumers are the deciding factor in an open market and let them have a say.
However, due to increase in input cost the prices of all the steel products have increased, the BSP MD said.
Replying to a question he said the BSP has contributed about 50 per cent of the total profit of the SAIL the year, ended March 31 last, and the actual amount would be known once the audited balance sheet is ready for the last fisal.
It was about 46 per cent last year and this year also the profit would more than that, Ramaraju said.
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