SRI LANKA’S STEEL IMPORTERS UNHAPPY OVER PLANNED IMPORT DUTY INCREASE
December 8th, 2013
Steel importers in Sri Lanka are expecting a decline in sales next year following the government’s decision to raise import duty on steel products, in an effort to encourage more local production.Subramaniam Sritharan, import manager at Janatha Steels, one Sri Lanka’s leading steel importing companies told Steel First that his company is anticipating a 25% drop in sales from next year due to the increase.Although the government has still not officially announced by what percent the import duty on steel products will increase, Sritharan predicted a 15% hike on ...
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