Goa Chamber of Commerce and Industry (GCCI) said that hike
in the export duty for Iron ore will make low grade ore exports from the
coastal state totally unviable.
“The export duty will make export of Goan low grade ore totally unviable
which will have a cascading effect on the Goan economy,” GCCI Chairman
Manguirish Pai Raikar said.
GCCI, in a letter to Union Finance Minister Pranab Mukherjee has demanded that
the export duty be hiked only on the high grade ore, sparing the low grade
ones.
“Kindly amend the notification and restrict the export duty only to the
high grade ore with Fe content above 58 per cent and withdraw the duty on other
lower grade ore,” Raikar has urged.
GCCI has said that Iron ore exports account for nearly 85 and 95 per cent of
total exports of both the Mormugao Port and Panaji Port respectively and both
will lose substantial revenues of about 150 crores per annum, if exports are
stopped.
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