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Share the burden of war costs: Government to Indian industry. india news

Share burden of war costs: Government tells India Inc

New Delhi: “When things are going good you keep all the profits in your account, but when things turn unfavourable, you immediately pass on the costs. A little sharing of the burden may not be bad for you” – the reported remarks of a senior government official have created a stir in government circles. The official is said to have made this comment during a recent conversation with some industry representatives, who told him about the rising cost of raw materials due to the conflict in West Asia. Sympathizing with them and assuring them of all possible assistance from the government, the official suggested that the industry could bear some part of the increase in material costs instead of passing it on to consumers. The ministry and department – ​​after receiving inputs from industries on short supply or non-availability of key materials – are taking up the matter with concerned agencies and “higher levels” to find solutions. The government has set up seven Empowered Groups of Secretaries (EGoS) that regularly examine potential disruptions in trade, supply chains and logistics. They are also taking mitigation measures and monitoring domestic availability and price stability of essential commodities. Meanwhile, officials said that during a meeting at the PMO on Wednesday evening, EGOS members also shared the steps taken so far and the problems being faced. These were discussed in detail, he said. One of the major issues under discussion was the availability of packaging material for food items, milk and medicines, which was affected due to the disruption in the supply of ethylene and propylene.

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