Major Shift: Sri Lanka Plans to Ban Metal Scrap Exports
Sri Lanka Ban Metal Scrap Export 2024: New Licensing System Implemented
Sri Lanka is planning to clamp down on exports of metal scrap and make it illegal to export items without navigating through a licensing system, according to a statement from the Finance Ministry. The measures aim to ban the export of metal, iron, related equipment, and scrap without a license.
In the future, all metal exports will require recommendations from the Ministry of Industry. This statement was made after a meeting involving metal workers, Ministry of Industry bureaucrats, and Customs officials. The ban will apply to various metals, including copper, brass, aluminum, cast iron, white iron, and high carbon steels.
The Ministry has not specified which group of citizens will benefit from this export control or which will be disadvantaged. Metal scrap is typically collected by individuals using small trucks and pushcarts, then sold to larger collectors who pay cash upfront.
The impact of the export ban on the market price of scrap metal is uncertain. It is unclear whether the ban will discourage the collection of metals or reduce the earnings of collectors, who generally have little political influence. Additionally, aluminum and metal cans left in the environment can become breeding grounds for dengue mosquitoes.
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