Big steel, cement firms operating as a cartel; need to place regulator: Gadkari | India News – Times of India
NEW DELHI: Big gamers within the metal and cement trade are indulging in cartelisation to jack-up costs, Union street transport minister Nitin Gadkari has mentioned elevating considerations of its influence on infrastructure initiatives.
Responding to a suggestion from the Builders Association of India of Western Region that the federal government ought to arrange a regulator for these cement and iron on Saturday, Gadkari mentioned, “We are in the process of finding out the solution for that. Your one of the recommendations is for a regulator for steel and cement, which is also a good suggestion. I will look into it… I will take it to the finance minister and Prime Minister.”
Earlier, Gadkari had written to the PM citing how firms have been artificially jacking up costs and had sought his intervention.
Speaking on the BAI occasion, the minister mentioned it is going to be tough to obtain PM Narendra Modi’s dream of making India a $5 trillion economic system if the metal and cement costs maintain going up, Gadkari mentioned, declaring the goal of investing Rs 111 lakh crore on infrastructure initiatives within the subsequent 5 years to assist the economic system.
The minister mentioned he has mentioned the difficulty with the PM and had a prolonged dialogue on it with the principal secretary within the PMO as properly.
Stating that each one the gamers within the metal trade have their very own iron ore mines, and don’t have to face any hikes in labour or energy charges, he puzzled how the metal trade has been mountaineering costs. He mentioned the cement trade is exploiting the scenario by mountaineering up the costs, and underlined that the stance of each the industries shouldn’t be within the nationwide curiosity, given the infrastructure spends lined up. “…It is also one of the important issues where I am also very much worried about,” he reiterated.
As per an official assertion, BAI additionally requested for a mechanism for the early launch of payments in opposition to the federal government contracts, streamlining in GST implementation, and royalty fee to be taken care by the state governments through the assembly with the minister.
