Home NEWS Nitin Gadkari assures to look into BAI’s demand for cement, steel regulator

Nitin Gadkari assures to look into BAI’s demand for cement, steel regulator

Union Minister for Road Transport and Highways says Centre severe about curbing cartelisation in these sectors

Union Minister for Road Transport and Highways Nitin Gadkari has assured the Builders’ Association of India (BAI) that he would look into their demand for a regulatory authority for the cement and steel sectors. He stated the Central authorities is severe about curbing situations of cartelisation.

Expressing concern, Mr. Gadkari stated he felt there’s cartelisation in these industries. The minister made the feedback whereas just about interacting with the members and office-bearers of the BAI on Saturday.

“We have taken serious note of it [cartelisation] and I have discussed this with the Prime Minister. Most steel companies own iron ore mines and with no increase in labour and power charges, why should there be an increase in steel prices? It is very difficult to understand,” the minister stated.

“Similarly, the cement industry is taking advantage and exploiting the situation for profit. This is not in the interest of the nation. We are aiming to implement infrastructure projects worth ₹111 lakh crore in the next five years and the Prime Minister has dreamt of a $5 trillion economy. With cartelisation in cement and steel industries, it will be very difficult to achieve,” he added.

Mr. Gadkari stated forming a regulatory authority was a good suggestion and the last word determination could be taken by the Finance Ministry and the Prime Minister’s Office. “But I can assure you that this has been taken very seriously and we will resolve it at the earliest,” he stated.

The minister additionally resolved to tackle lots of BAI’s calls for and points raised by the infrastructure sector. During the assembly, BAI and its office-bearers had put ahead the problems confronted by contractors and industrialists from the infrastructure, development and actual property sectors. “Baburao Shkkarwar, vice-president of BAI western region, and Mu Mohan, president, BAI, and other office-bearers, raised the issues effectively and the minister replied to them positively,” BAI stated in an announcement.

The affiliation requested for a mechanism for early settlement of payments towards authorities contracts, and streamlining GST implementation. BAI has additionally demanded giving trade standing to the infrastructure sector. Mr. Mohan stated the trade standing would assist the sector resolve main taxation and duty-related points.

BAI stated, “Mr. Gadkari assured us that he will look into the demands. He sought cooperation and a proactive approach by the industry players in helping the government achieve its goals in the infrastructure sector.”

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