Saturday Dec 14, 2024
Saturday Dec 14, 2024
Wednesday, 11 November 2020 00:15 - - {{hitsCtrl.values.hits}}
Cabinet yesterday decided to stop export of scrap metal unless approved by the Sri Lanka Industrial Development Board, to provide local industries with sufficient raw material for their products. The Inter-Ministry Task Force on Industry and Enterprise and the Task Force on Economic Rehabilitation and Poverty Alleviation had discussed the issues relating to the metal industry before taking the decision, the Government Information Department said yesterday.
The task force had subsequently decided to restrict the export of scrap copper, aluminum, stainless steel, high carbon iron, brass, tints, scrap aluminum blocks and zinc blocks with immediate effect, with the view of providing sufficient raw material for local small scale industrialists.
According to a research conducted by Sri Lanka Industrial Development Board and University of Moratuwa, it has been proved that the demand for scrap iron, tints, aluminum, copper and brass has been increased due to expansion of local industrialists. Demand for zinc, manganese, high carbon iron and stainless steel has also increased.
Demand for Scrap Metal is expected to be driven by Government polices to promote local industries. Therefore, it is appropriate to reconsider the current permission for the export of copper wire and other metals in order to use them more in value added products.
As per the approval granted by the Cabinet of Ministers scrap iron, copper, aluminum, stainless steel, high carbon iron, brass and tints and scrap aluminum blocks and zinc blocks are only for local use and export of unusable scrap metal is to be done only on the recommendation of the Sri Lanka Industrial Development Board and the other relevant institutions.
