In a bid to boost the country’s steel sector,industry body ASSOCHAM has urged the government to set up a regulatory authority to fix road freight rates.
The proposal will help break up local monopolies and facilitate movement of iron ore and other raw materials from mines and ports.
“Associated Chambers of Commerce and Industry of India (ASSOCHAM) has mooted a proposal to the Union government to constitute an appropriate authority either at the central or state level to fix the ceiling on road freight rates and breaking local monopolies,” the industry body said in a statement.
Transporters charge exorbitant rates for movement of iron ore and other raw materials from mines and ports to steel plants. Besides, they also prevent free competition through their dominating presence in local areas, ASSOCHAM said.
Considering that higher transport costs result in higher costs of production of steel in India, there is an urgent need to bring down freight tariff rates by up to 25 percent across all raw material and steel products to gain competitive edge, it added.
The industry body also submitted various suggestions to the steel ministry to bring back the country’s steel sector on a growth trajectory.
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Denne historien er fra November 2016-utgaven av Steel Insights.
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