Lalu Prasad wants cess to deter iron ore exportApril 21st, 2008 - 6:57 pm ICT by admin
New Delhi, April 21 (IANS) Railways Minister Lalu Prasad wants India to impose a 15 percent export duty on iron ore, before a complete ban, to preserve the country’s rich mineral reserves and promote their value addition. “It’s an irony that a country that imports steel, in a reckless manner refuses a ban on exports of iron ore without considering that if this is not stopped, the country’s mineral wealth will be depleted,” the minister said.
“Till a complete ban on the country’s iron ore exports is placed, the imposition of customs duty could work as a temporary measure,” he told a seminar co-hosted by the Associated Chambers of Commerce and Industry (Assocham) here.
Speaking about his ministry, the minister said he would lay down his office next year with a surplus of about Rs.1,000 billion ($25 billion) for the Indian Railways - against Rs.690 billion in 2007-08. He added that manpower was the organisation’s strength.
“The government had a proposal to retrench the employees as the railways were running into losses. But it was turned down. I felt the great human resource of the railways should not be retrenched - it should be strengthened,” he said.
“It was because of this reason that the railways could ensure its turnaround in the last couple of years…”
Tags: assocham, chambers of commerce, chambers of commerce and industry, customs duty, human resource, imposition, indian railways, iron ore exports, irony, lalu prasad, losses, manpower, mineral reserves, mineral wealth, New Delhi, reckless manner, rich mineral, rs 1, turnaround, value addition