Ministry To Relax Ban On The Exportation Of Ferrous Scrap Metal

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The Minister of Trade and Industry, Hon. Haruna Iddrisu today met with the Steel Manufacturing Companies, Foundries, Scrap dealers and Members of the Ferrous Scrap Metal Monitoring Committee where the following policy decisions were taken.

This was contained in a statement signed by Nana Akrasi Sarpong, Ag. Director Communication And Public Affairs at the Ministry of Trade and Industry.

“When Parliament resumes in October 2013”, the statement said “a revised Ferrous scrap export bill will be laid before the August House for a window of opportunity for legal exportation of ferrous scrap on justifiable grounds with the payment of export levy on the scrap by the dealers”.

It continued that “These scrap are those that have been rejected by the Steel Companies but which are in need abroad. The export will also be for environmental improvement purposes”.

“The Minister further directed the Steel Companies to pay the scrap dealers within a period not exceeding twenty-one days after the supply of the goods for various reasons.

“These decisions were taken as part of measures to streamline the demand and supply of ferrous scraps in the country. The Hon Minister has decided to review LI2201 to grant that legal exportation of ferrous scrap as and when necessary.

“Hon. Haruna Idrissu therefore tasked the Monitoring Committee to come out with proper records of export of ferrous scrap before and after the ban”, concluded the statement.

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