Talks on with cement producers to cut prices: Chidambaram

Mangalore, May 12

The Union Finance Minister, Mr P. Chidambaram, has said that the Government is still talking to cement manufacturers on reducing prices. “But I have made it very plain, that, if they (cement manufactures) do not voluntarily cut the prices, we are prepared to take administrative measures,” he said.

Addressing presspersons here on Monday, Mr Chidambaram said, “the administrative measures cannot be announced now. It will be announced only when they are taken.”

It is universally acknowledged that steel and cement manufactures put up the prices seeking advantage of the demand-supply situation. “As far as steel is concerned, we have already taken some steps. We have been able to persuade them to cut back price. We have also restricted the export of steel products. I think steel prices will now moderate,” Mr Chidambaram said.

When asked for his response to Dr C. Rangarajan’s statement that inflation will come down to 6 per cent in the next three to four months, he said: “I have great respect for Dr Rangarajan. I sincerely hope that his words come true.”

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