Paswan commends industry for holding the price line

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New Delhi, Jul 16 (UNI) Exhorting the steel industry not to resort to abnormal profits, Steel Minister Ram Vilas Paswan today commended its efforts of supporting the government in managing the inflationary situation.

Addressing a conclave here, the Minister said a fine balance needs to be ensured between the interest of the consumers and those of the industry.

Expressing concern at the rise in cost of raw materials, Mr Paswan said the government would not want the industry to suffer.

At the same time, they should not indulge in profits that are disproportionate to the rise in the cost of production.

The Indian Steel Conclave was jointly organised by the Government of India and FICCI.

Mr Paswan said taking into account the investments being made in the steel sector, the country's production capacity is likely to touch 243 million tonnes by 2020.

Editors here picking up from para 2 of DC30, STEEL-PASWAN-CONCLAVE.

UNI GS SR UCS2016

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