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Last Updated : Mar 08, 2017 02:39 PM IST | Source: CNBC-TV18

Pricing formula for natural resources in the works: Steel Secretary

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.

Latha Venkatesh

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, said Steel Secretary, Aruna Sharma in an interview to CNBC-TV18.

“While profit should be there, it should not have an adverse effect on end users,” she said.

On the stress in the banking system coming largely from assets in the steel sector, Sharma said the government is taking requisite steps to flag 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, she said.

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

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First Published on Mar 8, 2017 01:23 pm
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