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)