In order to study the system in place for iron ore sales by National Mineral Development Corporation (NMDC), steel ministry is likely to forma an expert group of officials.
“An expert group will be constituted with government officials to study and analyse the system of selling iron ore by NMDC,” Steel Minister Mr. Chaudhary Birendra Singh tweeted yesterday.
The Minister did not elaborate further on the structure of the group or the study. But, as per a senior government official said the group is likely to be headed by Steel Secretary Ms. Aruna Sundararajan and will include senior officials from the steel and mines ministries as well as those from the PSU.
The development comes in the backdrop of government’s think tank Niti Aayog, in March, raising the issue of iron ore being exported at a price, which is “substantially lower” than the rate at which it is available for domestic industry.
NMDC’s iron ore sales down by 5% in FY16
NMDC’s iron ore sales in last fiscal was recorded at 28.87 MnT against 30.53 MnT in FY15. It missed its sales guideline of 38 MnT by 9.1 MnT.
~Sourced
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