Ship parts now duty free

Ship parts now duty free

JAKARTA (JP): Shipping companies are now exempt from paying
import duties on raw materials, components and spare parts, the
Ministry of Communications announced on Tuesday.

Secretary-general Anwar Suprijadi said the finance minister
had issued a decree removing duties on imported parts and
components for the firm.

"We are just waiting for the right time to implement it,"
Anwar was quoted by Antara as saying.

He said the exemption was aimed at supporting the development
of the country's shipping industry, suffering from soaring prices
of parts and components due to the rupiah's fall against the U.S.
dollar.

More than 70 percent of ship components and parts are
imported.

Anwar said the soaring price of ship components and parts had
forced many of the country's shipping lines to stop operations.
(gis)