Ban on ferrous metal to be relaxed
The Minister of Trade and Industry, Mr Haruna Iddrisu, has expressed the intention of the government to suspend the ban on the export of ferrous metal from the country.
Advertisement
The decision follows a meeting between the ministry and the steel manufacturing companies, foundries, scrap dealers and members of the Ferrous Scrap Metal Monitoring Committee in Accra.
According to the acting Director of Communications and Public Affairs at the ministry, Nana Akrasi Sarpong, the parties agreed that when “Parliament resumes in October, 2013, a revised Ferrous Scrap Export Bill would be laid before the House to create a window of opportunity for the legal export of ferrous scrap on justifiable grounds with the payment of export levy on the scrap by the dealers”.
Ferrous scraps are the scraps that have been rejected by the local steel companies but are needed abroad. The export will also be for environmental improvement purposes.
Nana Sarpong said the sector minister further directed the steel companies to pay the scrap dealers within a period not exceeding 21 days after they had supplied them with the goods to avoid any misunderstanding.
He explained that the decision became necessary as part of measures by the ministry to streamline the demand and supply of ferrous scrap in the country.
Consequently, he said, the minister had decided to review LI 2201 to grant the legal exportation of ferrous scrap as and when necessary.
Nana Sarpong also said the minister had further tasked the monitoring committee set up by the ministry to study developments in the sector and come out with proper records on the export of ferrous scrap before and after the ban.
By Charles Benoni Okine/Daily Graphic/Ghana
