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Cabinet may ban iron ore exports
BS Economy Bureau in New Delhi |
February 20, 2004 10:16 IST
The Union Cabinet, which is scheduled to meet in New Delhi on Friday, is expected to ban iron ore exports and consider the N K Singh committee report on investment in the power sector. Domestic steel producers have been lobbying with the government for banning iron ore exports, to bargain for better and cheaper metallurgical coke (metcoke) from China. The N K Singh committee report seeks to set the post-tax return on equity at 14 per cent for power generation companies and 16 per cent for distribution companies and raise the depreciation rate from 3.6 per cent of the fixed asset to 5.6 per cent.
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