Date:15/08/2004 URL: http://www.thehindubusinessline.com/2004/08/15/stories/2004081502390300.htm

Back Paswan's options to check steel prices

Our Bureau

Hyderabad , Aug. 14

THE Union Minister for Chemicals, Fertilisers and Steel, Mr Ram Vilas Paswan, said he would propose either the establishment of an independent regulatory authority to monitor steel prices or the reduction in the import duty on steel at the meeting of the National Steel Consumers Council next month.

Addressing a press conference at the R&D centre of the National Mineral Development Corporation (NMDC) here on Saturday, Mr Paswan said it was targeted to enhance steel production in the country from 36 million tonnes currently to 60 million tonnes per annum by 2012 and to 100 million tonnes by 2020. NMDC was also expected to post a profit of Rs 600 crore in the current fiscal against Rs 402 crore last year.