Steel industry urges Centre to reduce import duty on raw materials

Kolkata,Dec 4 (UNI) In a bid to boost import of primary raw material like steam coal, the Steel Industry has urged the Centre to reduce import duty to nil in the coming Budget.

Speaking on the sidelines of a programme, Tata Metaliks Ltd Managing Director Harsh K Jha said here today that in order to encourage import of raw materials for the steel industry, this initiative should be taken by the Union Finance Ministry.

''Export of Iron Ore (Lumps and Fines) and Chrome Ore, including concentrates, are restricted to the level it was operating during 2005-06,'' he said.

The import duty on mild steel and alloy steel should be raised be from five per cent to fifteen per cent, he added.

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