Govt mulls MIP or import duty hike to curb aluminium imports

Asserting that the government is in talks with aluminium industry, Mines Secretary Balvinder Kumar said that the government may hike import duty on the commodity or opt for minimum import price (MIP) to curb aluminium import.Kumar said a decision on import duty hike or MIP on aluminium will be taken with a fortnight. Below is the verbatim transcript of Balvinder Kumar’s interview to Anshu Sharma on CNBC-TV18.Q: What are the measures the government is working on to curb aluminium imports?A: 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.Q: Even the mines minister has been pressing on the fact that it is time for the government to sell its residual stake sale in Hindustan Zinc and Bharat Aluminium Company Limited (BALCO). Where does the government stand on that matter?A: In fact we are examining this issue in great depth because there are 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.