The views of both the consumers and the producers will be sought on the issue at the meeting and the recommendations will be forwarded to Prime Minister Dr Manmohan Singh for necessary action.
Accor-ding to a senior official of the ministry, the meeting would consider the possibility of having a mechanism wherein the domestic steel industry would not be dependent on the fluctuating steel prices in the international market.
The steel ministry is preparing a draft note on how to reduce dependence on the overseas steel companies in the matter of price fixation of steel products, the same will be distributed among the producers, consumers and the decision makers soon, the official said.
As a first step in the direction, Mr Paswan has directed all PSUs to make the prices public through advertisements in newspapers on monthly basis so as to ensure transparency.
When contacted, Mr Paswan said, The ministry has three major issues on its agenda including streamlining of prices, increase in production and strengthening of distribution system.
We want to develop a price mechanism which should guard the domestic consumers and producers in the emergency situation so that international price should not adversely affect the domestic players, Mr Paswan said.
However, he refused to divulge the details as it was in initial stage but expressed hope that the government would soon find an alternative to the interlinking of steel prices with international market.
Similarly, all necessary steps would be taken to ensure that the small scale industry receives adequate supply of steel materials at reasonable prices.
On enhancement of steel making capacity, he said that the government would soon come out with a policy which would spell out a road map for facilitating an increase of the production from the present 36 million tonnes to 100 million tonnes by 2020.