Metinvest Group approves of the steps taken by the government to support the industry, but at the same time calls for strategic decision making in settling transparent and understandable rules on the market, including scrap market.
According to the group CEO Yuri Ryzhenkov, the decrees on cancellation of 5% import duty on scrap and the temporary increase of export duties are positive for the mining complex.
“But certain steps are not enough. We are interested in the situation with scrap on the whole; we need actions that will lead to transparent and normal business. When scrap becomes a normal business environment, in which companies could work transparently”, he said.
“The VAT on scrap should be cancelled for good, we need amendments to the Tax Code that will help liberalize the scrap market, then it will need no artificial stimuli to work”, Ryzhenkov added. (Ukrainian metal)
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