czi logo.jpgConfederation of  Zimbabwe Industries is concerned about the proposed lifting of a ban on the export of scrap metal arguing that it is against economic growth policies crafted under the Short Term Emergency Recovery Programme, STERP.

Exports of scrap metal were banned in August 2004 with a view to encouraging value-addition of locally available raw materials and it has promoted local steel manufacturing industries to realize high output.

 

In his mid – term fiscal policy statement presented last month, Finance Minister, Mr. Tendai Biti announced the lifting of the ban on exports of scrap metal beginning the first of this month.

 

onfederation of Zimbabwe Industries is concerned about the effects of such a policy towards local industries.

 

CZI Vice President Mr. Alexander Johnson said fiscal authorities failed to consult widely only to take the position of local merchants who support the lifting of the ban.

 

The local steel industry feels the lifting of the ban will starve the industry of a vital raw material which is cheaper than iron which has to be mined and processed.

 

 This according to the industry will affect performance in the manufacturing sector, expected to contribute to economy growth of  4,8%  this year.