Return

Roofing Sheet Prices To Skyrocket

There are fears that prices of roofing sheets will go up following government’s decision not to renew industrial rebate licence on roofing sheets.

 

The licence accorded manufactures duty free status on imported raw materials which made it possible for the roofing sheets to be affordable.

 

Some concerned manufactures have since written the Commissioner General of Malawi Revenue Authority (MRA), requesting the authority to reconsider the decision not to renew licence.

 

The manufactures said the importation of coils for roofing sheets from India and China was affecting their business.

 

They have hinted that the failure to renew the licence will lead to a 10 percent duty imposition on the materials they import which in turn will result in general increase of prices of roofing sheets.

 

One of top officials in the Ministry of Finance revealed that government decided not to renew the licence due to underperformance of the concerned manufactures.

 

“The committee decided to remove the licence because the sector has been underperforming. The whole idea of industrial rebate is to encourage value addition. But what happens with the roofing sheet sector is that their value addition is very minimal; hence, the decision to have it removed,” explained the official.