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Business EconomyPosted at: Oct 8 2020 9:15PM


Duty free Iron Ore Pellet exports ongoing even before 2014: Govt

New Delhi, Oct 8 (UNI) The government said on Thursday Iron Ore Pellet export has been happening prior to even 2014 and as per the export policy, items not mentioned specifically in the export schedule are 'free' for exports.
''The iron ore pellet export data in the ten years before the 2014 notification is available in public domain. Thus, the linkage to changes in 2014 notification is misleading and is not backed by data,'' the ministry said in a clarification.
The Commerce & Industry Ministry said the export policy restriction was put in 1998 only for KIOCL.
''On 21.01.1998, vide Notification, a specific entry was added in the export policy regarding 'Iron Ore pellets manufactured by Kudremukh Iron Ore Company Limited (KIOCL) out of concentrates produced by it'. Thus, the export policy was regard to only Iron Ore pellets manufactured by KIOCL, which was 'canalized' through KIOCL, a CPSU under Ministry of Steel,'' according to the statement.
It said there was no change in policy for Iron Ore Pellets not manufactured by KIOCL.
Subsequently, on September 26, 2014 the export policy of Iron Ore pellets manufactured by Kudremukh Iron Ore Company Limited was amended to ‘Free’ from 'canalised'.
Further, in the notification a policy condition was also added that the export of Iron Ore pellets manufactured by KIOCL is to be done by KIOCL Limited, Bangalore or any entity authorised by KIOCL Limited, Bangalore. However, there has been no amendment to the export policy of Iron Ore Pellets not manufactured by KIOCL.
The export duty on pellets was made Nil in 2011. To promote the export of Iron Ore pellets as a value added product, then Finance Minister Pranab Mukherjee, had reduced export duty to ‘nil’ during the 2011-12 budget announcing in his budget speech that "Iron ore is also exported in a value-added, pelletized form. Full exemption from export duty is being provided to Iron Ore pellets to encourage the value addition process for fines."
The ministry said Iron Ore Pellet export has been happening prior to even 2014.
As per the Export Policy, items not mentioned specifically in the export schedule are 'free' for exports. As per export data, Iron Ore Pellets were taking place even prior to change in export duty in 2011-12.
''The legal position was still under consideration. The legal opinion from Deputy Legal Advisor, Department of Legal Affairs has not been endorsed by the senior officials of the Department and cannot be taken as the official legal view on this matter. The matter for final legal position is under consideration,'' the ministry said.
The Congress has accused the government of adjusting the rules allegedly in view of favoring its corporate friends in the export of iron ore. It questioned whether the change in policy of removing export duty for iron ore pellets was done in consultation with all stakeholders.
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Tags: #Duty free Iron Ore Pellet exports ongoing even before 2014: Govt
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