Metalnewsnet 1 Apr: ET reported that steel ministry is learnt to have sought Prime Minister intervention for imposition of 20% export duty on iron ore shipments.
A senior steel Ministry official said that "Yes Mr Virbhadra Singh steel minister has written a letter to the Prime Minister seeking imposition of a minimum of 20% ad valorem export duty on all grades and varieties of iron ore to curb its export.”
At present, there is a 10% export duty on iron ore lump and 5% on iron ore fines.
Earlier, the steel ministry had sought the duty structure to be doubled in the Union Budget 2010-11, but the demand was not met.
(Sourced from ET)
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