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Congress flags ₹12,000 cr loss from illegal iron ore exports

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Private mining firms have defrauded the Union authorities of ₹12,000 crore by evading export responsibility through “illegal export” of iron ore since 2014, the Congress alleged on Thursday and demanded an inquiry into what it described as a “Modi-made iron ore scam”.

Also learn: CBI conducts searches in 10 cities over Iron ore export rip-off

Addressing a press convention, celebration spokesperson Pawan Khera stated a Law Ministry word of September 10 identified that solely Kudremukh Iron Ore Company Limited (KIOCL), a flagship firm beneath Ministry of Steel, was allowed to export iron ore. But previously six years a number of personal mining firms have been additionally engaged in illegal export of iron ore pellets.

Law Ministry word

The celebration additionally circulated copies of the Law Ministry word to spotlight the actual fact the difficulty has been flagged inside the authorities.

The Congress spokesperson claimed that the illegal export of iron ore pellets began after the Modi authorities made modifications to the iron ore export coverage in 2014 and allowed the export of top quality iron ore and waived off 30 % responsibility on export of pellets.

“It is estimated that these private firms have exported iron ore worth ₹40,000 crore since 2014, violating the law as they did not have the license to export the ore. However, these private players, as expected, have not been reprimanded or questioned by the Central Government and continue to flourish by exporting iron ore pellets,” Mr. Khera alleged.

Also learn: CBI books port officers for iron ore rip-off

“Even private firms that had iron ore mines for personal consumption started exporting iron ore pellets by seeing this opportunity and in collusion with Ministry officials… By not paying the export duty, the private players have robbed the government of around ₹12,000 crore in duty fee. Under the Foreign Trade Development and Regulation Act 1992, these private players are liable to a penalty of ₹2,00,000 crore for this gross illegality ,” he added.

Demanding {that a} detailed record of companies exporting iron ore illegally be made public, the Congress requested, “Since 2014 has the government questioned any private entity regarding their illegal dealings vis-a-vis iron ore export? What action has been initiated, if any against the officials of the Steel Ministry who allowed illegal export to take place.”

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