The New Nation - Internet Edition

BSS, Chittagong

Different categories of iron rod including scrapped iron prices have been re-fixed at a reasonable price aimed at controlling the high prices of the iron products at a meeting between the businessmen and the concerned officials here.

As per the decision of the meeting, from now on good quality 60-grade iron rod to be sold at Taka 62 thousand per metric ton (mt) from current rate of Taka 74 thousand while 40-grade to be sold at Taka 58 to 60 thousand per mt from present price Taka 70 thousand.

On the other hand, the scrap iron and ship breaking yard businessmen have been asked to sell per mt scraped iron at a rate of Taka 50 thousand from the present price Taka 53 to 55 thousand. The prices of finished iron rod products and scraped iron materials were re-fixed at a meeting between the owners of different leading steel re-rolling mills, scrapped ship importers and breaking yards and the joint forces held at the latter's office last night.

The businessmen have been asked to follow the re-fixed price structure up to next June and they were assured of reviewing the rate after the dateline, meeting sources said. The recent unusual hike of prices of the construction materials seriously hamper the construction and development work of both private and public sectors. One year before, the price of per mt 60-grade iron-rod were sold at Taka 36 thousand while 40-grade was Taka 32-34 thousand.

The decision of the meeting instantly conveyed to the higher authorities of the government and the ministry of commerce, sources said. Meeting sources said the concerned official agencies warned that they would monitor it constantly whether the re-rolling and shipyard owners comply the refixed price structure and would take stern legal action against those who failed to response positively.

Col. Mohammed Masud Hossain of joint forces called upon the businessmen to extend their hand to the government in implementing the almost shelved development schemes of the country under current fiscal and said it is responsibility of every citizen to supplement the government's all positive efforts.

He assured the owners of re- rolling mills and scrapped ship breaking yards of solving their problems including gas and electricity crisis through conveying the matter to the higher authorities.