Date:20/04/2007 URL: http://www.thehindubusinessline.com/2007/04/20/stories/2007042002511100.htm

Back Validity of import regime for metal scrap extended

K.R. Srivats

Import from registered sources to start in October

New Delhi April 19 The Government has further extended the validity of the existing import regime for metallic waste and scrap to September 30.

The proposed new system of import from registered sources would now come into effect from October 1, official sources said.

The registered sources system was to come into effect last year.

Under the proposed system of import from registered sources, suppliers of metallic scrap to India would have to be registered with the Government department concerned for their supplies to be allowed into the country.

The Government had in 2004 revamped and tightened the import policy on metallic scrap and waste following an explosion of live shells in an imported consignment of metallic scrap at a facility of a steel manufacturer.

Pre-shipment inspection certificates were then stipulated for import of metal scrap in an unshredded or loose form. A major portion of the metallic scrap imports into the country comes in unshredded form.

Meanwhile, official sources clarified that the pre-shipment inspection regime would continue even after the new registered source system comes into force from October 1.

Asked about the reason for the latest extension, sources said that efforts were being taken to put a new system in place.