Will take strict action against wheat exporters on fake, back-dated letter of credit, says Piyush Goyal

[ad_1] Union Commerce, Industry and Food Minister Piyush Goyal on Friday said the government will take strict action against exporters who had created fake, back-dated letters of credit (LCs) on May 13 to ban wheat exports. “We are examining all possibilities of any exporter who has tried to sabotage the system,” he said. While barring wheat exports last month to control rising domestic prices, the government had made it clear that shipments backed by LCs issued before the ban was announced would be allowed. Goyal said an inter-ministerial committee comprising…