Daily News Egypt

Industry Ministry raises fees on plastic scraps to EGP 5,000 per tonne - Daily News Egypt

Advertising Area



Advertising Area



Industry Ministry raises fees on plastic scraps to EGP 5,000 per tonne

The decision came in order to keep pace with the high rise in world prices, Says Kabil


Minister of Industry and Trade Tarek Kabil issued a decree raising the charge on waste and plastic scraps to 5,000 per tonne instead of 3,000. This does not include plastic molded granules or molded in all its colors, even if it consists of more than one material for one year after the issuance of this decree.

Kabil said in a statement that this decision aims to encourage the local industry through the provision of alternative raw materials at reasonable prices, pointing out that increasing the exports of these raw materials negatively affects the national industry.

The minister added that the fees imposed by resolution 121 for the year 2016, which states EGP 3,000 per tonne, cannot keep pace with the large increase in world prices.

He stressed the ineffectiveness of the current fees in limiting the exporting of these raw materials during the past year, as exporting Egyptian plastic waste and scraps has doubled during the first half (H1) of this year to 520 tonnes compared to 280 tonnes during the same period last year.

 

The minister said that the prices increased by 65%, explaining that the average price per tonne increased from $840 to $1,350, which encouraged it’s export and reduced it’s supply in the local market.

Kabil pointed out that the Chamber of Chemical Industries, the Plastics Division, and the Export Council of Chemical Industries and Fertilizers called for raising the value of the export fees to keep pace with the rise in international prices.

Advertising Area



https://cdn2.dailynewsegypt.com/2017/08/29/industry-ministry-raises-fees-plastic-scraps-egp-5000-per-tonne/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe