Business Bureau:
Industry body Ficci has suggested to the railways ministry various measures Like inclusion of coal and coke in long-term tariff contract(LTTC) policy, to promote growth of steel industry. The policy was unveiled by the ministry for key customers using predetermined price escalation principle. Ficci also suggested rationalisation of freight class for iron ore, formulation of long-term policy on freight structure for short lead traffic, allocation of more rakes for movement of cargo for industries, and route rationalisation policy for iron ore and limestone.
It also said it is essential to rationalise freight class for iron ore in view of the viability of domestic iron ore mining and steel sector. “Since a wide range of industrial segments ranging from metals to thermal power generation are dependent upon coal, coke and iron ore, these commodities should also be covered under the LTTC policy,” it said.