15, Aug 2011
The spat between the Orissa government and Indian Bureau of Mines (IBM) over under-reporting of iron ore prices has intensified with the state seeking the intervention of the Department of Mines, Government of India, to arrest the disturbing trend.
Holding the IBM responsible for its faulty procedures adopted in fixing sale value of iron ore, the state Chief Secretary B K Patnaik has urged the Union mines secretary S Vijay Kumar to take appropriate remedial measures so that the state government does not suffer revenue loss.
Patnaik has suggested that the IBM may revise the average sale value retrospectively from August 2009 to enable the state government to collect the differential royalty for the past months also.
Underscoring the need for initiating action against unscrupulous lessees, who are found to suppress facts or submit erroneous figures, Patnaik stressed for conducting an audit of statistical figures on price of iron ore to avoid wide variation in price of iron ores of identical nature and grade.
Source:Business Standard
Leave a Reply