Wednesday, 05 Oct 2011
Press Trust Of India reported that concerned over severe shortage of iron ore after the ban on mining in Karnataka, Indian union steel minister Mr Beni Prasad Verma said that the finance ministry should immediately increase export duty on the raw material to 30%.
He said “If exports of iron ore stop, the problem of iron ore shortage in Karnataka and other states would get solved, by and large.”
He added that “We want to get this implemented immediately. I had written to them just at the beginning of the Karnataka crisis.”
Mr Verma had written a letter to finance minister Mr Pranab Mukherjee two weeks ago to increase the duty by 10% to 30%, to discourage exports.
(Sourced from PTI)
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