Steel min sticks to 20% tax demand on iron ore export

摘要

The steel ministry has reiterated its demand to levy as high as20% tax on export of iron ore to ensure availability of the key raw material for domestic steel manufacturers first. The move if accepted by the government would dent the revenue stream of companies like Sesa Goaandstate controlled NMDC. "The domestic steel industry is growing fast and requires more and more iron ore, Weneed to be more prudent with our natural resources. The industry must plan for future as it is poised to become major steel producer of the world," steel minister Virbhadra Singh told FE.