SAIL takes firm steps to contain retail steel prices

New Delhi, Jul 18 (UNI) Public sector steel giant Steel Authority of India Ltd (SAIL) has said it will take punitive action against those who indulge in re-selling of HR Coils as it is meant only for actual consumption.

According to SAIL sources, the MoU customers have also been advised to inform SAIL about their stock position on a regular basis.

These directions are part of a slew of measures taken by the company to ensure that retail prices of its steel products are contained in the market.

SAIL, which has not changed its selling prices since May this year, in line with its commitment to the Government, has also cautioned its dealers about selling SAIL products beyond MRRP limits.

Branch sales offices of SAIL have been alerted to keep a strict vigil on this and instructed to stop supplies to dealers who do not adhere to these directions.

SAIL has already informed the public about operating MRRP of products like TMT Bar and GP/GC sheets through newspaper advertisements and its own website www.sail.co.in. The company has also advertised in newspapers of the chargeable price of HR Coil in the National Capital Region.

Among other measures taken to contain retail prices of SAIL products in the market, is an advisory to MoU customers to limit retail margins to within Rs 1,200 per tonne over the price at which they have procured from SAIL saying any departure from this limit will invite stern action.

These customers have also been advised to inform SAIL about their stockholding of SAIL products on a weekly basis.

To further ensure that steel reaches actual consumers at correct prices, SAIL has introduced a special scheme in Kolkata and Faridabad for supply of HSM Plates and CR Coils/Sheets to consumers who require up to 10 tonnes of these items against an affidavit acknowledging self-consumption. This has also been advertised through the print media.

UNI BKS SR VC1646