Chandigarh, Aug. 25 -- Ludhiana-based industrialists and micro, small and medium enterprises (MSMEs) are facing mounting financial pressure following a sharp rise in steel prices, prompting calls for government intervention.

The Federation of Industrial & Commercial Organisation (FICO) has urged the Union Steel Ministry to establish a regulatory committee to monitor steel prices, ensure transparent profit margins and keep prices at reasonable levels.

FICO President Gurmeet Singh Kular said, "Steel prices should be regulated through a proper regulatory authority so that the MSME sector can survive. The frequent increase in prices is making it extremely difficult for industries to operate," TOI reported.

Steel Prices Rise

Industry repre...