The iron and steel sector is under performing due to high taxation imposed over the manufacturing of the product, manufacturers have said. Speaking during the first ever steel forum, Kenya Association of Manufacturers steel sector chair Bobby Johnson said this has caused the country to spend more on importing the product. Johnson highlighted that though the sector continues to grow, its full potential still remains unexploited, due to high energy cost, Import Development Fees, Railway Development Levy, and illicit trade. The manufacturers now want the government to zero rate the Import Development Fees and Railway Development Levy for all industry inputs to improve the competitiveness of the sector. If we can forge stronger partnerships…we can turn this around in a short amount of time,” He saidThe industry forms about 13 percent of the manufacturing sector.

Source: The Star April 30, 2019 01:52 UTC