the goan I network
VASCO
The All Goa Barge Owners Association (AGBOA) on Monday demanded a waiver of 30% export duty on iron ore, following a massive slump in overall iron ore exports from the State by a whopping 76 per cent for the October-November 2017 period.
At a news conference at Vasco on Monday, AGBOA President Raymond De Sa said, "Mining activity has begun, but there is no business. In 2012, 54.5 million MT was exported. In 2016, it was only 2.84 million MT and in 2017, it fell to just 0.68 million MT."
"We demand that 30% export duty on iron ore be waived so that mine owners and exporters can start business. Once the business starts, it will be a turnaround time for all the industry dependents from barge owners, truck owners to even general public," he said.
"From 360 barges, we have come down to 180 and with even 20 million tonnes, we cannot recover the fixed cost involved. If it is further capped, we will not be able to survive at all."
De Sa also said the government should renew the schemes on loan and extend the deadline from December 31 to March 31, 2018 and appoint a nodal agency like Mines Department or EDC to take over the loans from cooperative banks. "Cooperative banks have been directed by RBI to extend dates till March 31, due to no cash flow after demonetization and GST. The last set of people who had got barges in 2012 just before the mining ban have huge loans," said De Sa.
Past president, Atul Jadhav said loans of about Rs 363 crore of nationalised banks had come down drastically after they met the union finance ministry and sought a 30% waiver on loans.
"But loans taken from cooperative banks and financial companies was not reduced. The government should take steps and assist banks to work out solutions. There is also a system which is known as Asset Reconcession Company involved in taking over loans, but this has around 6% processing charges on the takeover of the entire amount which is extremely high."
VASCO
The All Goa Barge Owners Association (AGBOA) on Monday demanded a waiver of 30% export duty on iron ore, following a massive slump in overall iron ore exports from the State by a whopping 76 per cent for the October-November 2017 period.
At a news conference at Vasco on Monday, AGBOA President Raymond De Sa said, "Mining activity has begun, but there is no business. In 2012, 54.5 million MT was exported. In 2016, it was only 2.84 million MT and in 2017, it fell to just 0.68 million MT."
"We demand that 30% export duty on iron ore be waived so that mine owners and exporters can start business. Once the business starts, it will be a turnaround time for all the industry dependents from barge owners, truck owners to even general public," he said.
"From 360 barges, we have come down to 180 and with even 20 million tonnes, we cannot recover the fixed cost involved. If it is further capped, we will not be able to survive at all."
De Sa also said the government should renew the schemes on loan and extend the deadline from December 31 to March 31, 2018 and appoint a nodal agency like Mines Department or EDC to take over the loans from cooperative banks. "Cooperative banks have been directed by RBI to extend dates till March 31, due to no cash flow after demonetization and GST. The last set of people who had got barges in 2012 just before the mining ban have huge loans," said De Sa.
Past president, Atul Jadhav said loans of about Rs 363 crore of nationalised banks had come down drastically after they met the union finance ministry and sought a 30% waiver on loans.
"But loans taken from cooperative banks and financial companies was not reduced. The government should take steps and assist banks to work out solutions. There is also a system which is known as Asset Reconcession Company involved in taking over loans, but this has around 6% processing charges on the takeover of the entire amount which is extremely high."
