Sundaymail Editor
Sunday Mail Reporter
Government will not scrap Statutory Instrument 64 until the Local Content Policy comes on stream, Industry and Commerce Minister Dr Mike Bimha has said.
In an interview, Dr Bimha said: “I want to set the record straight: For the meantime, SI 64 will remain in place. It has brought many benefits for several companies that have been revived. So, we are in no rush to scrap it.
“The Local Content Policy is coming and it will be extensive in promoting our local industries and reducing imports. This policy will replace SI 64, but it is going to take some time before it comes into effect. It could take several months, or even years before it comes into effect. Teams are working on the policy, but it is still early days.”
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