Ludhiana: MSME units say unjustified price hike of 20-100 % of steel killing industry

In the last one year, steel manufacturers have suffered a big blow due to uncontrollable rise in the rates of steel. According to them, there has been 20 to 100% increase in the rates of different types of steel products since July 2020, despite a huge fall in the demand for steel.

As a result of this, every singleMSMEunit is suffering huge losses and several units have closed

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down their operations temporarily. If the government fails to take steps to counter the situation, it is certain that a large number of factories will close down permanently.