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PANJIM: In what could bring in a relief for mining industry in
“Mines ministry is not favourably inclined towards increase in the export duty, especially in case of low grade ore, which is not consumed by steel industry” A K Srivastava, Additional Secretary, ministry of mines, told reporters on the sidelines of two day conference on ‘Mining for sustainability’ organized by Federation of Indian Mineral Industries (FIMI).
“There is always a budget. The final call on the hike would be taken during the coming Union budget. There is always a possibility that Central government might revisit it during the presentation of budget,” the official informed.
Srivastava said that the decision was taken by the Finance ministry, which would be placed before Commerce ministry for an outcome. He elaborated that Mines ministry has already written to the government about its views, which might be considered during ensuing Union budget.
Srivastava said that if export duty is increased on high grade ore, the low grade ore should be allowed to continue with the earlier duty.
The Union government had hiked the export duty from 20 per cent to 30 per cent from December 30, 2011 onwards. The mines industry in
Accordingly, Goa Mineral Ore Exporters Association (GMOEA) and Goa Chamber of Commerce and industry (GCCI) had made representation to
seeking its intervention to roll back the decision. GCCI had also written to Union Finance ministry placing several facts before it. Chief Minister Digambar Kamat had said that the apprehensions raised by the mining companies would be placed before Union government.
