Orissa seeks ban on iron ore exports

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Bhubaneswar, Oct 22(Odisha.in) Chief minister Naveen Patnaik on Saturday sought a complete ban on the exports of iron ore from India.
 
Patnaik made the demand while participating in the 56th meeting of the National Development Council at New Delhi chaired by Prime Minister Manmohan Singh.
 
He also drew the attention of the council to the ‘supernormal profits’ being enjoyed by the mining companies operating in his state.
 
He informed that the profits of mining operators exceed even the approved annual plan size of Orissa.
 
Such an unwarranted state is the outcome of flawed central policies which have perpetuated low royalty rates and artificially low prices determined by Indian Bureau of Mines, Patnaik said.
 
In the interests of mineral bearing states, he strongly advocated the need for imposing Mineral Resources Rent Tax on mining companies, to be charged at 50 percent of the surplus rent.
 
This would help mineral rich states like Orissa to raise much needed resources for development, he added. Suggesting that the export of ore should be banned, he said technologies be developed to derive benefits of value addition.
 
Odisha.in

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