Metal & Oil & Gas News –
Kampala Government has been urged to institute a 25% Common External Tariff on importation of reinforced bars (iron bars).
The proposal was put forward by East Africa’s steel and iron manufacturing giant Roofings Group, saying this will protect local industries from cheap and substandard imports.
The tariff proposal was made during a tour by Parliament’s committee on Tourism, Trade and Industry at the group’s plant located at the business park in Namanve.
The 25% tariff will match that already imposed by Kenya in its 2014/15 budget after her steel mills had started closing shop due to unfair competition from cheaper imported iron and steel products.
Dr Sikander Lalani the Group chairman and managing director said that “It is our request that Parliament addresses this concern with urgency as we are facing increased deterioration of the market which may see the plant downsize further or closed. This is the case with other factories producing reinforced Bars in Uganda.”
Dr Martin Francis Kyeyune, the Group finance and economic advisor said that much as the tariff was not provided for in the 2014/15 Budget, the company faced imminent scaling back if nothing was done. e hope that it can be addressed within this financial year or else we face downsizing.”
Mr Amirali Kazani, The Group chief finance officer, said that “If there are such measures (Common External Tariff) in place, it will give us more confidence to produce even more quality products.”
Source – Nation Media
Zhejiang Yaang Pipe Industry Co., Limited (www.nctv.net)
