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New Delhi, Feb. 3

Indian Railways has partially withdrawn concessions it had extended to iron ore exporters by reducing freight rate concessions by Rs 100 a tonne. Simply put, if a customer was receiving concession of Rs 134 a tonne, then he would now receive a rebate of Rs 34. And those customers who received concessions of below Rs 100, will not receive any concessions at all now. This comes into effect from February 1 and will be valid up to March 31. Indian Railways had earlier extended freight concessions of up to 50 per cent on export of iron ore till March 31. Each rake carries about 3,500-4,000 tonnes of iron ore, so withdrawal of this discount could result in higher earnings of up to Rs 4 lakh a rake for Indian Railways.

— Our Bureau

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