Govt to roll out better mining, pharma policy
By TNN |
Highlights
NEW DELHI: The government in its new mining and pharmaceutical policy will remove all necessary irritants and distortions as regards exports of iron ore and pricing of pharma to safeguard the interests of domestic businesses for their growth and larger market size, according to minister of state in the PMO, Prithviraj Chavan.
Speaking at the annual general meeting of industry body Assocham, Mr Chavan said, ���A new policy framework is being worked out to put in place a regulatory mechanism for the commodities market. Changes would be made in the new FMC (Forward Markets Commission) Act to ensure that commodity prices are fixed within the country.���
He added that the issue of iron ore exports is being looked into again with the submission of Huda Committee report and a firm decision is shortly expected in favour of indigenous industry players that would enable them to undertake capacity expansion, particularly in the steel sector.
Moreover, the new pharmaceutical policy of the government would take care of pricing of essential drugs to enable common masses to have access to them. However, the time-frame by which the new mining and pharmaceutical policy would be put in place is still not known.
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