Ludhiana Induction Furnace Steel Mills Seek Steel Price Regulator
Times of India reported that Ludhiana based steel furnace industry representatives met the new Steel Minister Mr Ramchandra Prasad
19 Jul, 2021 , 3:54 am
Times of India reported that Ludhiana based steel furnace industry representatives met the new Steel Minister Mr Ramchandra Prasad Singh at his office in New Delhi recently and discussed issues being faced by the industry especially the factories located in Punjab including setting up of a steel regulatory authority, which should monitor rates of steel raw material and take action against the persons involved in artificial hike in the rates of steel. Induction Furnace Association of North India President Mr KK Garg said “We met the Union steel minister Ramchandra Prasad Singh today along with welcoming him for assuming the charge of the ministry. We also discussed the problems being faced by businessmen, specially those belonging to the secondary steel sector. W
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Ludhiana: The furnace industry of Ludhiana has claimed that due to the weekly offs imposed by Punjab State Power Corporation Limited (PSPCL), it will face production loss of Rs 1,000 crore.
The owners of furnace, rolling mills and other allied units also claim that they have to pay Rs 100 crore to labourers even when there is no work for the almost 10 days of keeping their units shut. According to furnace industry representatives, in the wake of the weekly off orders, more than 500 units have completely shut down since July 1 and will remain so till July 10 when the weekly off ends.
K K Garg, president of Induction Furnace Association of North India (IFANI), said, “Earlier, for almost two months, industrial oxygen supply to our factories remained suspended due to which majority of furnaces were closed. Now, the power crisis has forced us to shut down since July 1.”
Ludhiana: A day after the district administration ordered a ban on the use of oxygen by factories except for nine sectors, the furnace industry, which though has been allowed its use, is reporting huge shortage as well as a hike in rates.
Businessmen said all gas re-fillers and distributors were claiming non-availability of gas and they were not giving any confirmed delivery dates. The cost of refilling a 7-cubic-metres gas cylinder, which until recently was Rs 170, has shot up by three times to Rs 500. Industrialists are of the view that if the current situation prevails for the next two to three weeks, there will be a crisis in the engineering sector, as the furnace industry will not be able to produce raw material used by the micro, small and medium enterprises. Production of all the industries dependent on it will come to a halt. They are urging the government to take steps to ensure uninterrupted supply of gas in hospitals as well as industry.