: MSMEs neglected by centre as steel raw material prices continue to rise: FICO #FinanceIndia #StockMarketNEWS New Delhi, Mar 5 (KNN) The Federation of Industrial & Commercial Organisation

@StockMarketNEWS Mon 07 Mar, 2022

Posted in: #FinanceIndia #StockMarketNEWS

MSMEs neglected by centre as steel raw material prices continue to rise: FICO #FinanceIndia #StockMarketNEWS
New Delhi, Mar 5 (KNN) The Federation of Industrial & Commercial Organisation (FICO) has accused the central government for neglecting countrys micro, small and medium enterprises (MSMEs) as they continue to face the brunt of rising rates of steel raw material.

They have slammed the central government for not providing measures and suitable intervention to mitigate the issue.

It has said that the Centre has been turning a blind eye to the issue.

“The rates of steel are going berserk once again. In the last 30 days alone, the rates of different raw material have shot up by more than Rs 8,000 per tonne. This is totally unjustified. The industry especially the MSME units are bearing the brunt of the rising rates," said K K Seth, FICO chairman.

FICO has sent representations to Prime Minister Modi and Union Steel Minister Ram Chandra Prasad Singh to look into the matter and intervene.

They have also urged the steel minister to immediately ban export of steel to cater to the local demand of steel. (KNN Bureau)

Stock Market News & Best Intraday tips & Stocks near support

Report