Steel Ministry is working with NITI Aayog on pricing formula for natural resources: Dr. Aruna Sharma, Steel Secretary

10th April 2017

The steel ministry is working closely with the NITI Aayog on pricing the country’s natural resources like iron ore, coking coal, coal, gas, among others in such a way that there is a clear line between profit and profiteering.”While profit should be there, we are working to ensure it does not have an adverse effect on end users,” said Steel Secretary, Aruna Sharma.

On the stress in the banking system coming largely from assets in the steel sector, the government is taking requisite steps to assure bankers that ‘steel is not a sinking sector’. Any asset sale is specifically between the lenders and acquirers, and the government is definitely not trying to play midwife to the deals even as banks are not ready to take haircuts.

Anti-dumping duties in the sector will continue, adding but certainly not on imports. In fact, import duties on certain products not available in the country could be reduced.

Source – CNBC-TV18