Canalise ore exports via MMTC: Sharma

In a recent draft Cabinet proposal,Sharma told the Finance Ministry and the Planning Commission that instances of private exporters resorting “to illegal means” have been reported,which amounted to circumventing the Foreign Trade Policy.

He cited the instances where the governments of Karnataka and Orissa had to intervene to contain illegal mining within their boundaries and argued that “canalising all ore exports through a single nodal agency — MMTC would help curb illegal mining and prevent circumvention of EXIM policy

“Canalisation would also serve as a kind of border check on the quantity and grade of ore being exported as even with a registration system,it would be difficult to determine exact quantities available for export and their traceability to a particular mine-head,” the commerce minister said.

Besides,it would also ensure domestic availability of ore and bring about an optimal balance between production and domestic demand,Sharma said.

“Single agency operation or canalisation through MMTC Limited should be extended to cover exports of most grades of iron ore including Goa-Redi ore and an interim measure to

enforce regulation,accountability and legitimacy of exports.”