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Mr Gadkari warns steel and cement firms against making cartels- The 19th China (Guangzhou) Int’l Plate metal, Bar, wire, Metal Processing &Setting Equipment Exhibition
3/13/2018 金属板材展-棒材-线材展 -plate metal expo-wire expo |
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Live Mint reported that union minister Nitin Gadkari warned companies, especially in the cement and steel sectors, of stern action if they formed cartels to increase the prices of key infrastructure commodities. With infrastructure sector is witnessing an upswing in activities in recent years, Mr Gadkari said the emphasis of new technologies should be to reduce the cost of projects without compromising on quality. He said that “The cost of construction has increased due to cartels. And I will not hesitate in making allegations against them (the companies)...now the rates of cement have increased.”
Mr Gadkari observed that there was no increase in the royalty, labour charges, yet the costs spiralled. He said that “Steel industry...rates there have also increased. Now the cost of sand is equal to the cost of cement.”
He noted that the government does not have any problem in companies earning profits but they should be “reasonable” in it. “If somebody is going to exploit then it is not good. It is the duty of the government to control it and we are seriously thinking (on it).”
If the people are taking disadvantage of all the construction that is taking place in the country by making a cartel then it is time for the government to take stern action against them, he said. Gadkari, who also holds charge of the shipping ministry, was addressing a workshop on Use of Large Diameter Pipes for Mega Water Conservation.
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