ID :
16018
Sat, 08/16/2008 - 08:37
Auther :
Shortlink :
http://m.oananews.org//node/16018
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M'SIAN GOVT LIBERALISES CERTAIN CATEGORIES OF STEEL INDUSTRY
KUALA LUMPUR, Aug 16 (Bernama) -- The Malaysian Government has liberalised certain categories in the steel industry, International Trade and Industry Minister Muhyiddin Yassin said Friday.
He, however, said the ministry was still discussing the standards for steelbars.
"The government has decided to liberalise steel bars but we are still imposing some control. The industry players are allowed to import steel bars and cement as well," he told reporters after chairing his ministry's annualdialogue.
With the government's decision to liberalise, Muhyiddin said the steelsupply and the current shortage situation should improve.
The government abolished ceiling price for steel bars in the localmarket on May 12.
Steel importers have been exempted from getting import licenses and paying import duties while local steel manufacturers were allowed to exporttheir steel products.
Meanwhile, Master Builders Association of Malaysia (MBAM) has proposed to the government to consider abolishing tariffs on steel bars and billets to easethe current shortage which had resulted in critical increases in price.
It said steel bars and billets were currently tiered at five percent under the Asean Common Effective Preferential Tariff and 15 percent under the MostFavoured-Nation Treaty.
"The proposal will make it easier for the construction industry to obtain cheaper steel bars and feed its current growth and to ensure projects can becompleted according to deadline," it said at the dialogue.
It said both China and India had started to impose a 15 percent tax on steelbar exports.
Taiwan had suspended bars and steel billets export for three months toincrease local supplies and curb price escalations since March, it said.
MBAM said the suggestion would help contribute towards disciplining the local steel industry and help solve the perennial steel shortage that hadaffected the construction industry.
Meanwhile, Real Estate and Housing Developers' Association Malaysia (Rehda) said the authorities should rectify the situation by immediately liberalising imports of steel bars, rods and wires to ensure supply was at competitive pricesfor the domestic housing and construction industry.
Rehda and related industry players welcomed the government's decision to liberalise the cement market but disagreed with the 10 percent importduty.
"The cement importers still have to consider other expenses such as handling and transportation charges which can be very hefty now with the fuelprice increase," it added.
-- BERNAMA
He, however, said the ministry was still discussing the standards for steelbars.
"The government has decided to liberalise steel bars but we are still imposing some control. The industry players are allowed to import steel bars and cement as well," he told reporters after chairing his ministry's annualdialogue.
With the government's decision to liberalise, Muhyiddin said the steelsupply and the current shortage situation should improve.
The government abolished ceiling price for steel bars in the localmarket on May 12.
Steel importers have been exempted from getting import licenses and paying import duties while local steel manufacturers were allowed to exporttheir steel products.
Meanwhile, Master Builders Association of Malaysia (MBAM) has proposed to the government to consider abolishing tariffs on steel bars and billets to easethe current shortage which had resulted in critical increases in price.
It said steel bars and billets were currently tiered at five percent under the Asean Common Effective Preferential Tariff and 15 percent under the MostFavoured-Nation Treaty.
"The proposal will make it easier for the construction industry to obtain cheaper steel bars and feed its current growth and to ensure projects can becompleted according to deadline," it said at the dialogue.
It said both China and India had started to impose a 15 percent tax on steelbar exports.
Taiwan had suspended bars and steel billets export for three months toincrease local supplies and curb price escalations since March, it said.
MBAM said the suggestion would help contribute towards disciplining the local steel industry and help solve the perennial steel shortage that hadaffected the construction industry.
Meanwhile, Real Estate and Housing Developers' Association Malaysia (Rehda) said the authorities should rectify the situation by immediately liberalising imports of steel bars, rods and wires to ensure supply was at competitive pricesfor the domestic housing and construction industry.
Rehda and related industry players welcomed the government's decision to liberalise the cement market but disagreed with the 10 percent importduty.
"The cement importers still have to consider other expenses such as handling and transportation charges which can be very hefty now with the fuelprice increase," it added.
-- BERNAMA
