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Reflex Eco Group – Ghana news

by Samuel Boadi (Local journalist)

When Parliament resumes in October 2013, a revised ferrous scrap export bill will be laid before it for consideration and approval.

This will pave way for the legal exportation of ferrous scrap on justifiable grounds.

A press release issued yesterday in Accra by the Ministry of Trade & Industry (MOTI), which stated this, said scrap metal rejected by the steel companies but needed abroad would be included.

The export will also be for environmental improvement purposes.

The development followed a meeting held yesterday between Minister of Trade and Industry, Haruna Iddrisu, steel manufacturing companies, foundries, scrap dealers and members of the ferrous scrap metal monitoring committee.

The minister directed the steel companies to pay the scrap dealers within a period not exceeding 21 days after the supply of the goods for various reasons.

The decisions were taken at the meeting as part of measures to streamline the demand and supply of ferrous scraps in the country.

Mr Iddrisu said he decided to review LI2201 to grant the legal exportation of ferrous scrap.

He therefore tasked the Monitoring Committee to come out with proper records of export of ferrous scrap before and after the ban.