Steel sector will continue to be governed by market
forces and the government has no intention to introduce
a price control mechanism for steel or iron ore, steel
minister Ram Vilas Paswan informed the Lok Sabha.
prices of iron ore as well as steel are deregulated and
are governed by market forces. There is no proposal for
introducing price control mechanism," he said in
a written reply.
said the country has sufficient reserves of iron ore and
there is no proposal to completely ban the export of iron
ore. Production of iron ore (haematite and magnetite)
in the country during last fiscal totalled 22,107.99 million
tonnes, he pointed out while replying to a supplementary
the Steel Authority of India (SAIL) is entering into a
strategic partnership with Jaiprakash Associates Limited
for joint production of cement in Madhya Pradesh and Chhattisgarh.
A letter of intent has been issued to them in this connection,
minister of state for steel, Akhilesh Das, informed the
Associates would have 74 per cent equity in the joint
venture while SAIL would hold 26 per cent, he said.
country, Das told the house, has exported 1,76,1784 tonnes
of steel in the last two financial years.