malvernmugadzikwa
Online Reporter
THE Competition and Tariff Commission (CTC) says suspension of duty on Intrachem Private Limited’s ammonium nitrate imports, which expired in 2022, should be extended to other local companies.
This will ensure greater competitiveness on the regional and international scale.
The mining explosives and chemicals producer is in the process of widening its operations from being purely a supplier of imported products to a manufacturer.
In 2021 and 2022, Government, through the Ministry of Finance and Economic Development, suspended duty through a rebate for the importation of 1 500 tonnes of Ammonium Nitrate per month (AN) for use by Intrachem.
However, Intrachem’s exemption from paying Ammonium Nitrate import duty expired in December 2022 and was not extended.
“Suspension of duty to Intrachem had a positive effect, which should be extended to other players in the industry, and the explosives industry has the capacity to satisfy local demand and export into the region,” said CTC in its second-quarter communique.
“Investigations established that Sable Chemicals is unable to meet local AN demand for both agricultural use and explosive producers.”
Online Reporter