New Delhi, Apr 15: The Cabinet Committee on Prices (CCP) is expected to meet today to discuss measures to rein in rising steel prices.
Earlier on April 11, Commerce and Industry Minister Kamal Nath had said, “The Government is looking at ways to check soaring steel and cement prices by withdrawing incentives for exports of steel. Any ban on the export of iron ore would not impact domestic steel prices, which have been rising strongly.”
Nath had requested Prime Minister Manmohan Singh’s intervention in reducing steel prices without hurting the export of iron-ore and not to go ahead with the proposal of imposing export duty on iron-ore.
The measure was being contemplated to discourage exports of steel and control domestic prices.