Govt should provide raw material security for steel firms: Jindal

New Delhi, Aug 8 (UNI) JSW Steel Ltd, the country's third largest producer of the alloy, today urged the government to provide raw material security to the steel manufacturers to ensure that their profits are not lowered further.

''The government should provide raw material security to the steel firms to ensure that their bottomline is not badly affected,'' the company Vice Chairman and MD Sajjan Jindal told reporters on the sidelines of an event here.

The retail prices of steel will not be increased in the future, but ''for how long it will continue is difficult to comment upon,'' he said.

Despite a decline in the profit of the steel companies, the manufacturers are continuing to hold the price line to support the government to tame the soaring inflation which has crossed the 12 per cent mark.

Mr Jindal also advocted for the need of checking the export of natural minerals and increase in the duty to help the manufacturers of the country who are battling against rise in the prices of coal and iron ore in the international market.

UNI AK MP PM1313