Govt not to intervene in steel prices: Paswan

Mumbai, Mar 4 (UNI) Union Minister of Chemicals, Fertilisers and Steel Ramvilas Paswan, while commenting on the steel prices, said his ministry will intervene only if the prices reach unreasonably high levels.

In a brief interaction with the reporters here today, Mr Paswan pointed out that a monitoring committee was already in place to look after steel and related issues.

On steel exports, Mr Paswan said there is a proposal to impose export duty to discourage export of steel, so that the country's needs are completely met first.

Speaking about the fertiliser sector, Mr Paswan rued that there had been no fresh investment in the sector over the last 15 years.

He said 70 per cent of the fertiliser projects are naptha based while 30 per cent of them are gas based. He opined that all the projects should be gas-based.

Mr Paswan said as of now, only some fertilisers are subsidised and it would be the endeavour of his Ministry to bring more fertlisers under the scope of subsidy.

UNI JM MAZ SB HT1755