The New Nation - Internet Edition

Staff Reporter

Commerce Adviser Hossain Zillur Rahman yesterday said that the government will implement the recommendations of the committee which was formed to stabilise the steel rod market.

The committee had been formed to find out the reason for instability in the rod market. The committee submitted the report yesterday that comprises eight recommendations to stabilise the price of MS rod.

The recommendations included revenue policy, import policy for rods, keeping market prices at a "rational level", creating competitive market and an end to monopoly, Zillur said briefing the newsmen after the submission of the report.

To come to a final decision, home, finance, commerce and shipping ministries would have to sit together and review the recommendations, the adviser added.

"We have to keep the rod market at a rational level. Those connected to this market should look into the matter," the adviser said.

The government will not accept any irrational suggestion by any party in this regard. “Prices will not be fixed by force."

Earlier, the committee led by ASM Rashidul Hai, Secretary, Ministry of Housing and a taskforce team visited several ship- breaking yards at Bhatiary in Chittagong on Monday and held a meeting with scrap ship traders, re-rolling millers and rod traders at the Circuit House.

The businessmen were asked to reset the prices of scrap iron or scrap plates in one day.