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04 OCTOBER 2016 AL CIRCLE

India to decide either in favour of MIP or hike duty on aluminium imports

EDITED BY : DIPANWITA GUPTA 2MINS READ

India may consider imposing a floor price or raise tax on imports of aluminium to protect the domestic industry from the onslaughts of cheap supplies from overseas markets, Mines Secretary Balwinder Kumar said on Tuesday. He said a decision on import duty hike or minimum import price (MIP) on aluminium will be taken within a fortnight.

On being asked about the initiatives that are being taken by the government to curb aluminium imports, Kumar said, "We are examining this matter in great depth. Two-three rounds of discussions have taken place with different segments of aluminium industry. So, either we may go for MIP or alternatively to increase the import duty but the main thing is that we want to develop a consensus among different segments of aluminium industry. So, we are working on that and hopefully in next maybe a fortnight we will take a decision on this issue."

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Of late, India mines ministry has been pressing on the fact that it is time for the government to sell its residual stake sale in Bharat Aluminium Company Limited (BALCO).

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On being asked about the status of the same Kumar said, "In fact we are examining this issue in great depth because there is Supreme Court decision, there is a stay order. So, keeping that in view how we can actually work out buying back of shares or ask them to give special dividend. So, on both alternative department and the ministry is working on that.

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Tagged with:

Aluminium Tariff India

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EDITED BY : DIPANWITA GUPTA 2MINS READ

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