14 Apr 2010
(MENAFN) Saudi Arabia’s Ministry of Trade and Industry denied recent media reports and said that it has not cancelled the import duty on steel, Al Arabiya reported.
A ministry spokesman said earlier that the 5 percent import duty imposed on steel rebar had been lifted, as the government tries to lessen a shortage of the building material in the Kingdom and encourage traders to ship the steel into the country.
The government aimed to prevent a shortage from delaying construction projects, the spokesman said earlier; however, the Ministry denied duty cancellations and said that it will continue to impose tariffs on steel.
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