Industry & Economy
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Steel
Steel regulatory body: Draft plan to be ready by Sept
Our Bureau
New Delhi
,
June 18
OPPOSITION from steel manufacturers notwithstanding, the Union Steel Minister, Mr Ram Vilas Paswan, has said that a draft proposal for setting up a regulator for the sector would be ready by September.
"Once the proposal is ready we shall seek views from all the stakeholders before taking up with the Government formally," Mr Paswan said at the sidelines of a press briefing on the fertiliser scenario here on Friday.
Mr Paswan said the move to set up the regulator had been initiated by the Government following suggestions from the consumers' council and had been welcomed by all the stakeholders last week.
"The proposal to set up regulatory body was mooted by the consumers' council last week and the Steel Ministry had assured the council to conduct a thorough discussion on the matter before taking a decision. If it is in favour of the nation, consumers and the industry, then there is no harm in setting up such a body," he said.
Initially, all the stakeholders, including private industry, public sector and the consumers' body, had welcomed the proposal and, keeping this in mind, the Ministry had agreed to prepare a draft proposal.
Mr Paswan, however, assured the industry that the regulatory body, if set up, would be absolutely independent and there would be no Governmental interference in its functioning
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