New EPC For Uniform Mining Policy For All States

New Delhi, January 27: | Updated: Jan 28 2003, 05:30am hrs
The chairman of the newly-formed export promotion council for hundred per cent export-oriented units (EoUs) R Veeramani has urged commerce and industry minister Arun Shourie that the uniform mining policy mooted by the mines ministry be introduced in all the states.

In a statement, Mr Veermani said since the grant of mining leases was time consuming, the Centre could consider setting up of a mineral upgradation fund with a corpus of Rs 5,000 crore on the lines of the Textile Upgradation Fund Scheme to provide assistance to mining industry at a concessional 8 per cent interest a year for its overall development.

The council chairman noted that under the advance licence scheme, natural rubber was permitted to be imported only through the Kolkata and Visakhapatnam ports, causing problems for many production units and urged the government to remove this restriction.

Pointing out that that piracy of Indian books in some of the neighbouring countries such as Bangladesh and Pakistan was severely affecting export opportunities, he requested the commerce minister to take appropriate steps in close association with these countries to resolve the issue.

Mr Veermani said the tax holiday benefit announced and guaranteed under Sections 10A & 10B of the Income Tax Act till 2010 should be continued and honoured. Further, the EOUs should be given a level-playing field in respect of duty drawback, duty entitlement passbook etc so as to make them competitive, he stated.

In addition, the financial rates for the sector needed to be placed on par with the global ones to create viability. Any policy for one export oriented scheme should be automatically extended to other similar schemes in a harmonious manner, Mr Veermani stated.