Chidambaram says significant scope for further cut in cement price

[K.Karthik Raja]

Chidambaram says significant scope for further cut in cement price
, Thursday, May 15
.
NEW DELHI - A day after cement companies offered to cut prices by
3-7
rupees per 50 kg bag in some states, Finance Minister P. Chidambaram
today
said the reduction is not enough.
"There is still a significant scope for reduction in cement
prices," he
told reporters today.
The government has been persuading cement companies to cut prices
in the
wake of rising inflation rate.
"The industry ministry is in touch with cement companies. Let us
see what
the results are," Chidambaram said.
.
STEEL
The finance minister said he has not received any proposal from
the steel
ministry to roll back export duty on the alloy.
"There is no such proposal," he said.
Steel Secretary R.S. Pandey has said the government is examining a
proposal
to roll back the export duty, fanning speculation that the ministry is
pushing
for the much craved relief by the steel industry.