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Minister of industry: iron importer fees prevented the bankruptcy of some companies
 
Date: 12/2/2012
Minister of industry and foreign trade engineer Hatem Saleh decision to impose fees on imported iron protection prevented the bankruptcy of some companies in the sector.

And stressed during the press conference held on the sidelines of the launch of the «Tamkeen» to run and train the youth of today, the Ministry's trade policy must serve the local industry in the first place, he said, adding that the past period saw numerous problems before the iron industry contributed to the loss of local industry.

The Minister denied that the 6% that are imposed on imported iron represents the service or favor to a particular State, they are placed according to a complex technical ... And that, according to El Watan.

The Minister defended the decision saying that importers who complained of did not represent a large proportion of employment, asking: is it better to protect the importer who is 3 members or manufacturer that provides thousands of jobs and billions of investment?.

Saleh dispelled concerns about the possibility of exploiting local factories and increase prices, noting that if there was agreement between the companies to raise prices, the protection of competition and prevent monopoly practices would address it, adding: we have 6 players on the market now, and we have only one company works in the market of monopoly, as well as current production over consumption, have the potential to cover market need.

He stressed that last year was a year of losses, steel plants, especially after the increase in the price of natural gas, so it had to be a government intervention

 
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