Centre would launch de-hoarding drive to curb prices

Font Size

Print

Feedback

Email

Discuss

Save & Share Article

What’s this?

Digg	My Yahoo	Fark
del.icio.us	Newsvine	Reddit

Rate This Article

Jalandhar, May 9: Expressing concern over the steep rise in the rate of Inflation, Union Minister of State for Industry Ashwani Kumar on Friday revealed that union government with the help of respective state governments would launch a massive de-hoarding drive to control the price rise.

“The Prime Minister has already written all Chief Ministers on the De-hoarding drive and steps will be taken to bridge the gap between the whole sale price and retail price to curtail artificial shortage of products in market”, Minister said in Jalandhar on Friday adding that Industrialists were told to cooperate with the government and if they would not, government was empowered by the law to take strict action under Essential Commodity Act and Industrial Development Regulation Act to take steps to forcibly regulate the prices.

“We don’t want to encourage Inspectary Raj, but if needed, we will go for every thing to control the price rise”, Minister warned claiming that so far the industry has extended its positive approach to the government efforts in this direction.

To the prices of Iron & Steel and Cement, some of the major factors for rise in Inflation, Prime Minister himself took meeting with the Steel and Cement manufacturers, who ensured steep reduction of the prices of steel and cement respectively, Minister said claiming that within few weeks the rate of Inflation would also witness the sizable decline.

Asked whether the issue of price rise would have negative impact on the electoral prospects of Congress in the forthcoming parliamentary election, Minister ruled out the same and said “as the price rise will be brought under control within few weeks, where is the question of adverse impact on the electoral prospects of ruling alliance?