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Need to Revisit Gov’t Rules for Pricing Steel in Bourse

Need to Revisit Gov’t Rules for Pricing Steel in Bourse
Need to Revisit Gov’t Rules for Pricing Steel in Bourse

First Vice President Es'haq Jahangiri instructed Mohammad Nahavandian, the veep for economic affairs, to revise rules set for regulating trade in steel products.  
In a letter published on Monday, Jahangiri said the mechanism needs to be revisited in a way that "it does not send a negative signal to the bourse." 
The emphasis reflects concern that the potentially adverse steel pricing decision is undermining the stock market already in turmoil, which observers say is a “victim” of unhelpful government intervention in pricing products of listed companies.
The letter was also in response to the criticism by Labor Minister Mohammad Shariatmadari who said the rules for regulating steel market are a bane for the equity market and steel export, ISNA reported. 

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