Online edition of India's National Newspaper
Tuesday, Apr 22, 2008
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Online edition of India's National Newspaper Tuesday, Apr 22, 2008 ePaper | Mobile/PDA Version |
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National
NEW DELHI: Pitching for a ban on export of iron ore in the long run, Railway Minister Lalu Prasad suggested the slapping of 15 per cent export duty on such exports to help the country protect its domestic steel industry and preserve its highly precious natural resource. Inaugurating the ASSOCHAM organised seminar on Public Private Partnership here on Monday, Mr. Prasad said his Ministry would recommend to the Finance Ministry to impose 15 per cent exports duty on iron ore export. Until a ban was in place, imposition of exports duty could work as a temporary measure, said Mr. Prasad. “It’s an irony that a country which imports steel in a reckless manner refuses to ban exports of iron ore without taking into consideration that if this is not stopped, the country’s mineral wealth will deplete.” The Minister said there would a surplus of about Rs.100,000 crore by the end of this fiscal as against Rs.69,000 crore projected in 2007-08.
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