Business Daily from THE HINDU group of publications
Tuesday, Oct 21, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Oct 21, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Industry & Economy
-
Steel Decision on steel import duty soon: Paswan Our Bureau Mumbai, Oct. 20 The Steel Ministry would take a decision on imposing import duty and cutting export duty on steel in a week, the Union Steel Minister, Mr Ram Vilas Paswan, said here on the sidelines of India Chem 2008, an international exhibition and conference on chemicals, petrochemicals, pharmaceuticals and process plant machinery. The industry needs support in difficult times to help complete a projected capacity of 124 million tonnes by 2011-12, he said adding that the Government was aware of the problems the steelmakers were facing. With imports rising and prices falling, steelmakers last week urged the Government to impose 15 per cent import duty on hot rolled steel, restore the Duty Entitlement Pass Book benefits on exports and slash excise duty from 14.4 per cent to 8 per cent. The industry also sought scrapping of export duty and fixing of floor price for steel import at $800 a tonne. The Minister had assured them that the matter would be taken up with the Finance Ministry. Mr Paswan said steel majors had assured the Government that if given the concessions sought for, they would hold prices for six months, failing which they would be forced to cut production. The Ministry could decide import duty of up to 10 per cent, beyond which the Cabinet’s approval was required, Mr Paswan said. More Stories on : Steel | Excise and Customs
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
