Raising Customs & Excise Duty Will Collapse The Industry: Nepal Steel Rolling Mills Association
September 13, 2021 | Investopaper
Nepal Steel Rolling Mills Association has stated that the industry will collapse if the government raises the customs and excise duty on sponge iron.
At a press conference held in Kathmandu on Monday, former president of the association, Pradip Kumar Shrestha said that the industry would be closed and 9-10 thousand jobs would be lost.
The bill brought to replace the budget of the current fiscal year announced by the previous government has increased the customs rate and excise duty on sponge iron.
