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The Jakarta Post
A worker uses a metal melting furnace at PT Krakatau Posco's plant at the Krakatau Steel industrial area in Cilegon, Banten, last year. (Kompas/Iwan Setiyawan)
The Trade Ministry announced on Friday that it had extended plans to protect specific flat-rolled iron or non-alloy steel to prevent losses faced by the domestic industry.
“This extension is aimed to prevent any serious loss [for local producers] as well as to give them a chance to compete [fairly] with imports while [Indonesia] continues to better its [iron and steel industry] infrastructure,” said Mardjoko, the chairman of the Indonesian Trade Safeguard Committee (KPPI).
The specific product being protected by imposing import duty is flat-rolled product of iron or non-alloy steel.
Based on the trade ministry’s decision, the finance ministry has issued a regulation to impose import duties for the product that started on Sept. 20.
The import duty for non-alloy steel is Rp 2.89 million (US$ 214.7) per ton during the Oct. 3, 2017 to Oct. 2, 2018 period and Rp 2.19 million per ton during the Oct. 3, 2018 to Oct. 2, 2019 period. (bbn)
