Back to the complete issue
Monday, 9 September 2019

Court postpones iron billet import duty hearing to 5 October

Court postpones iron billet import duty hearing to 5 October: The Supreme Administrative Court has postponed to 5 October its ruling on appeals filed by the State Lawsuits Authority and a number of iron and steel companies against the suspension of a 15% import fee on iron billets, according to Masrawy. This is the third time the hearing has been postponed since mid-August. A lower administrative court in July turned down the Trade Ministry’s appeal to reimpose the 15% duty, which it lodged after 21 iron factories won a case at the court reversing the ministry’s decision.

Background: The Trade Ministry imposed a 15% import fee on iron billets and a 25% fee on steel imports in April. The decision was brought to court by a number of rolling mills who said the increased prices of iron had forced them to halt production. This led the administrative court to suspend the decision in July.

Trade Ministry claims 80% of steel jobs will disappear without protectionist measures: Steel companies will not be able to continue production without import fees, forcing them to lay off 80% of their direct labor force, according to a ministry report picked up by the local press.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.