The Indian Foundry Association had sent across the plea for imposition of duty to the Prime Minister’s Office (PMO) in Nov’20. The PMO sent the plea across to the Ministry of Commerce, which was subsequently forwarded to the Union Steel Ministry by the DGFT.
The “memorandum” forwarded to the Union Steel Secretary cites the Foundry Association’s request for making iron ore pellets and lumps available to the supply-starved secondary steel producers who have been driven to the brink due to supply crisis of raw materials.
SteelMint has accessed an official missive dated 15 Dec’20 issued by the Directorate General of Foreign Trade (DGFT), under the Union Ministry of Commerce, forwarding a plea to the Union Steel Ministry regarding imposition of 30% export duty on iron ore pellets.
The memorandum, forwarded by the DGFT to the Union Steel Ministry, is doing the rounds on social media platforms, with misconceptions prevailing that the government is finally about to impose a duty on iron pellet exports. However, any such expectation is futile till the government takes a firm decision in this respect.
Such unsubstantiated hopes about clamping down duty on pellet exports have flickered many times in the past without any definite outcome as yet.
Industry stakeholders have previously raised similar demands about imposing an export duty on high-Fe pellets.
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