Tuesday, 01 Mar 2011, PTI
Indian finance minister Mr Pranab Mukherjee’s move did not gel well with the Federation of Indian Mineral Industries, which saw steel cartel of few majors behind the hatching of the move and termed it as a huge blow for domestic iron ore producers.
Mr RK Sharma general secretary of FIMI, while observing that the entire proposal was self defeating, warned that production will come down as a result of which steel prices will go up making end users suffer.
He said “The entire proposal is self defeating. It too means a huge loss to the exchequer, he said adding the future of 1 million people directly employed with the mining industry is also at stake.”
Tags : raw material, steel mills, Steelmakers,
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