Summary:
Kolkata, Nov 29 (PTI) The Jute Commissioner has rejected the suggestion of the Indian Jute Mills Association (IJMA) for revising the fair price of raw jute to Rs 7,200 per quintal and instead sought a price capping recommendation for finished jute sacking bags.
The jute mills lobby body had submitted their suggestion to the Jute Commissioner, the regulator, to revise the fair price of raw jute to Rs 7,200 from Rs 6,500, after an emergency meeting pursuant to a high level meeting in the state secretariat in presence of the West Bengal Chief Secretary.
“As decided in the meeting convened by GoWB you are again requested to forward your proposal on maximum price cap (in absolute terms in Rupees per 100 bags) for consideration.
You may appreciate that fixation of maximum price is a regulatory function of the Jute Commissioner and once a maximum cap is imposed by publishing a gazette notification, the same is binding and cannot contain any variable element in the cap price itself,” the Jute Commissioner said in a letter to IJMA.
“It was unambiguously decided in the meeting that IJMA will forward the maximum price of jute bags which is proposed to be fixed in lieu of fixation of price of raw jute which is presently in force for consideration of the appropriate authority.
This was accepted by the representatives of IJMA who were present there,” the regulator said in its letter.