Business Daily from THE HINDU group of publications
Saturday, May 24, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, May 24, 2008 ePaper | Mobile/PDA Version | Audio |
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Industry & Economy
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Steel No decision yet on rollback of steel export duty 
Favouring exports: The Minister for Steel, Chemicals and Fertilisers, Mr Ram Vilas Paswan, with the Minister of State, Mr. Jatin Prasada, addressing a press conference in the Capital on Friday. Our Bureau New Delhi, May 23 The Government on Friday indicated that a decision on whether to roll back export duty on steel products or not is pending at the highest level of the Government and some decision could be expected soon. Speaking to reporters on the completion of the four years of UPA Government, the Minister for Steel, Mr Ram Vilas Paswan said that “We have submitted a 13-point charter of demands of the industry to the Prime Minister’s Office and Finance Ministry. One of the demands is that export duty should be rolled back in view of industry promising to hold the price line. A decision will be taken soon,” he said. He, however, said that the decision on export duty has to be taken by the Finance Ministry as it involves financial implications. Steel and Finance Secretaries are discussing the issue, he said. The Government had recently imposed export duties ranging from 5 to 15 per cent on various grades of steel and steel products. The Minister also pointed out that India has become the fifth largest crude steel producer in the world in 2006, an improvement from eighth position in 2003. He also said that India has retained its position as the largest producer of sponge iron in the world. He also said that the Government has decided to set up steel processing units at 12 locations across the country to improve domestic availability. More Stories on : Steel | Taxation
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