New Delhi, Sept 17: The government on Tuesday said that a steel policy is likely to be formulated by this year end even as it constituted a high level committee to look into the issue of iron ore availability. "We hope to put in place a Steel Policy by year end which would lay down the roadmap for development of industry", Steel Secretary V K Duggal said on the sidelines of the Sponge Iron Manufacturers' Association meeting.

Duggal said the policy would be in the form of a vision statement for future growth of industry.
He said the committee on iron ore, which has been set up to look into the problems pertaining to ore availability for sponge iron units, would submit its findings soon.
The committee, headed by Joint Secretary (Steel) S N Dash, would comprise representatives from industry bodies, state governments besides those from the mines ministry.
Duggal said that a long term solution to problems of sponge iron units would lie in augmenting production through opening of new mines in private and public domain and by re-adjusting supply side commitments to favour domestic consumers. Bureau Report