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Monday, 5 August 2019

State commissioners back decision for 15% import duty on iron billets

DISPUTE WATCH- Gov’t gets backing on decision for import duty on iron billets: The Board of State Commissioners (BSC) has backed a Trade Ministry decision to impose 15% import duty on iron billets, AMAY reported. The BSC said in its recommendation report that there wasn’t sufficient evidence to prove the ministry has used its authority to harm iron factories, but instead made the decision to protect local investments and ensure fair trade. The Supreme Administrative Court will discuss the BSC’s recommendation report, which is non-binding, on 17 August.

Background: The ministry imposed the 15% levy, together with a 25% import fee on steel rebar, in mid-April for a period of 180 days. The administrative court had rejected appeals to bring back the ministry’s decision after 21 iron factories won a case at the court reversing it. The factories had said the increased price of iron forced them to stop production.

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