REGISTERED No. D. 221
The Gazette of India
EXTRAORDINARY
PART I- Section 1
PUBLISHED BY AUTHORITY
No. 83 ] NEW DELHI , MONDAY , JUNE 17 , 1963 / JYAISTHA 27 , 1885
MINISTRY OF STEEL AND HEAVY INDUSTRIES
(Department of Iron & Steel )
RESOLUTION
New Delhi , the 17th June 1963
No. SC ( C ) -2 ( 67 ) /62.-In Resolution No. SC ( C ) -2 ( 27 ) / 62 , dated the 7th September , 1962 , Government stated that the retention prices lixed for the period 1960-62 should also be applicable , provisionally beyond 1st April , 1962 , subject to changes that may be necessary on account of increase in the price of coal and increase in rail freight .
In January 1963 , Government had allowed an interim increase in the retention prices of pig iron and steel by Re . 1 per tonne from 13th June 1962 and Rs . 5/- per tonne from Ist July 1962 over the 1960-62 prices . The producers had repre- sented that apart from statutory increase in the price of coal and rail freight , there have been incrcases in costs due to enhanced royalty on iron ore , lime stone and other minerals , increase in wages on account of the Interim Wage Board Award , increasedncreased incidence of exise duty on cercertain consumable stores , etc. The matter was referred to the Cost Accounts Branch of the Ministry of Finance for examination . The Cost Accounts Branch , having completed their enquiry , have submitted their report . Government , after careful examination of the report , have decided:
( i) For the period 1962-63 , escalation elements of Rs . 10/- per tonne and Rs . 6 /- per tonne should be allowed on the 1960-62 retention prices of salcable steel and pig iron respectively . These increases are inclusive of the escalations already allowed .
( ii) From 1st April 1963 onwards , a further increase in escalation of Rs . 8/- per tonne in the case of steel and Rs . 4/- per tonne in the case of pig iron should be allowed .
( iii ) From 1st July 1963 , the steel retention prices should be increased by a further sum of Rs . 10 per tonne for the payment of Emergency War Risks Insurance . This sum , however, will be finally adjusted with the Equalisation Fund on the basis of the actuals of each steel works.
ORDER
Ordered that a copy of this Resolution be communicated to all concerned and that it be published in the Gazette of India Extraordinary .
N. N. WANCHOO , Secy .
( 923 )
PRINTED IN INDIA BY THE GENERAL MANAGER , GOVERNMENT OF INDIA PRESS , NEW DELHI AND PUBLISHED BY THE MANAGER OF PUBLICATIONS , DELHI , 1963