Kolkata, Sep 9 (UNI) Steel, Chemicals and Fertiliser Mminister Ram Vilas Paswan today said the Centre had recommended a five per cent increase in iron ore export duty at 20 per cent from the present 15 per cent.
'' We have recommended a hike of five per cent in export duty of iron ore. The matter is now with the Finance ministry, '' he said on the sidelines of a programme of MSTC Ltd.
To a question, Mr Paswan said, '' There should be a ban on the export of high quality iron ore with ferrous content of 62 per cent and above, at least till the domestic demand is met. '' The Minister said the steel prices should come down and there was no reasom for the prices to go up. He, however, did not comment on the possible extent of the slide in prices.
'' If the profit of steel companies is higher than 15 per cent, then there is no reason why steel companies should hike prices, '' he said.
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