The Hindu : Andhra Pradesh / Hyderabad News : YSR’s appeal to Manmohan

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Wednesday, Mar 19, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

YSR’s appeal to Manmohan

Special Correspondent

‘Initiate measures to bring down prices of cement and steel’

HYDERABAD: Chief Minister Y. S. Rajasekhara Reddy has urged Prime Minister Manmohan Singh to intervene to initiate corrective measures to bring down the skyrocketing prices of cement and steel.

In a letter addressed to Dr. Singh on Tuesday, the Chief Minister said that the exorbitant rise in the prices of cement and steel would hamper his ambitious Jalayagnam, housing and the large-scale infrastructure development projects in the State.

Dr. Reddy said that the cement and steel producers were revising the prices upward, disproportionate to the cost of their production.

The per bag price of cement went up to Rs. 230 from Rs. 160 and the steel prices touched Rs. 50,000 a tonne as against Rs. 28,500 six months ago.

This was jeopardising the work schedules targeted by the State government in the development projects, said the Chief Minister.

TDP flays Centre

Meanwhile, TDP president N. Chandrababu Naidu has criticised the Central Government for its failure to check rising prices.

Due to the UPA Government’s polices, the price of steel had risen by Rs. 15,000 a tonne during the last fortnight while the prices of essential commodities were spiralling. The absence of regulation by the Government had given scope to big companies to form cartels while rice exports had been stopped as farmers did not have a “lobby” to protect their interests, he said.

Severe hardship

Addressing a press conference here on Tuesday, Mr. Naidu said that people belonging to the middle and lower classes were subject to severe hardship on account of the rise in prices.

He attributed the steep rise in steel prices to the shortage of iron ore that was being mined ‘illegally’ and exported. Companies like Obulapuram Mining Company were earning income to the tune of Rs. 7 crore to 10 crore daily, but the Government was not getting any royalty from the mine. Mr. Naidu who is also the convenor of the United National Progressive Alliance said the UNPA leaders would meet on Wednesday evening to chalk out an action plan for launching a nationwide agitation on the price rise.

Mr. Naidu challenged the Chief Minister to an open debate on the development works launched in different constituencies and the amounts spent on them.

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