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Govt to take with Centre on export duty roll back

Last Updated: Friday, January 6, 2012 - 14:28

Panaji: The Goa government has decided to
take up with the Centre the issue of hiked export duty, which
is likely to dent the prospects of iron ore mining industry in
the state.

State Chief Minister Digambar Kamat told PTI that his
office has received several representations from bodies
representing mining industry and even from the Goa Chamber of
Commerce and Industry (GCCI) expressing worries over the
increased taxation.

"We will represent to the Union government seeking their
intervention to roll back the export duty," Kamat said.

The export duty was hiked from 20 per cent to 30 per cent
from December 30, 2011 onwards, leaving the Iron Ore exporters
in lurch.

Goa Mineral Ore Exporters Association (GMOEA), the body
representing Goan exporters, had said that such a hike would
cripple the trade.

They had also pointed out that the royalty, which is
inversely proportionate to export duty, will plummet this
year, affecting finances of the state.

The GCCI had also written letter to Union Finance
Minister Pranab Mukherjee to review the hike.

Goa, the biggest exporter of Iron Ore, had sent
assignments of 54 million metric tonnes in the international
market. The state has low grade ores which are not consumable
for the steel industry, until they are blended with the high
grade ones.


First Published: Friday, January 6, 2012 - 14:28

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