New Delhi, Apr 16: Apex Chamber of Commerce and Industry (Punjab) today demanded establishment of a regulatory commission for iron and steel to check prices of the material. "The only solution to check prices and their volatility is to set up iron and steel regulatory commission on the pattern of such commissions for various other sectors", president P D Sharma said in a statement. The association felt the establishment of a commission with judicial powers would break the monopoly of steel producers. Sharma alleged that steel prices were fluctuating several times during the day and thus ruining steel consuming units. He alleged that for past one year steel makers have been fooling government and steel users by giving wrong statistics.
Sharma pointed to the existence of a cartel among steel producers which were harming the industry through abnormal prices. Bureau Report