The government has not yet decided on fixing minimum import price (MIP) for steel, industry and ministry sources said.
The domestic steel industry is mainly worried about cheap imports from China. The proposal to fix a minimum price for in-bound shipment of certain steel products is aimed precisely to keep those imports in check.
The industry's headache is cheap imports are impacting them adversely and could jeopardise billions of dollars of investment by domestic steel companies.
The steel sector is a major contributor to the burden of non-performing assets of state-owned banks, which are saddled with gross NPAs of around Rs 2.67 lakh crore at the end of March 2015. Gross NPAs of all banks came in at about Rs 3.09 lakh crore during the same period.
SOurce: ISMW