Par Panel for ore exports only in case of surplus
A Parliamentary Panel has said iron ore exports should be allowed only if the country has a surplus after meeting the demand of domestic steel producers.
By PTI |
NEW DELHI: A Parliamentary Panel has said iron ore exports should be allowed only if the country has a surplus after meeting the demand of domestic steel producers.
"At a meeting today, members of the Parliamentary Consultative Committee of Steel Ministry said exports of iron ore should be allowed only if the nation had surplus ore. The needs of the domestic steel producers should be met first before allowing exports," official sources told media.
"Some Members including those from the Left parties even demanded complete ban on ore exports," sources said.
The committee also demanded that state-run Rashtriya Ispat Nigam Limited (RINL) be given captive mines without delay to ensure its raw material linkage, sources said, pointing out that the PSU has to source ore from National Mineral Development Corporation.
RINL is also exploring the possibility of importing ore from Brazil on an experimental basis.
Steel Authority of India Limited (SAIL) Chairman Sushil Kumar Roongta has also expressed dissatisfaction over PSUs not getting preferential treatment that they are entitled to, the sources said.
Intervening during the discussion Steel Minister Ram Vilas Paswan said steel production has increased by 10.9 per cent during 2006-07 and is currently at 49.39 million tonnes, which is expected to reach 200 MT by 2020.
Expressing satisfaction on the performance of RINL, Paswan said the PSU has been functioning at nearly 120 per cent of its installed capacity for the last few years, they added
"At a meeting today, members of the Parliamentary Consultative Committee of Steel Ministry said exports of iron ore should be allowed only if the nation had surplus ore. The needs of the domestic steel producers should be met first before allowing exports," official sources told media.
"Some Members including those from the Left parties even demanded complete ban on ore exports," sources said.
The committee also demanded that state-run Rashtriya Ispat Nigam Limited (RINL) be given captive mines without delay to ensure its raw material linkage, sources said, pointing out that the PSU has to source ore from National Mineral Development Corporation.
RINL is also exploring the possibility of importing ore from Brazil on an experimental basis.
Steel Authority of India Limited (SAIL) Chairman Sushil Kumar Roongta has also expressed dissatisfaction over PSUs not getting preferential treatment that they are entitled to, the sources said.
ADVERTISEMENT
Intervening during the discussion Steel Minister Ram Vilas Paswan said steel production has increased by 10.9 per cent during 2006-07 and is currently at 49.39 million tonnes, which is expected to reach 200 MT by 2020.
Expressing satisfaction on the performance of RINL, Paswan said the PSU has been functioning at nearly 120 per cent of its installed capacity for the last few years, they added
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
