Tel Aviv earlier announced that it was preparing a response to missile attacks on its territory
mena57 minutes ago
According to a highly placed source at the Ministry of Economy and Commerce, officials are working on a procedure in this regard under which only the construction companies would be allowed to take the benefit of the new concession help them overcome the huge escalations in the cost of projects, which has financially squeezed many companies.
The source said that the UAE Contractors Association would provide a list of construction companies who have undertaken projects, also indicating their cement requirements for the on-going projects. Following this move, the import of cement would be allowed on 'demand basis'. He said that construction companies would not be allowed to sell the commodity to the cement dealers.
Cement dealers can also import the cement but only after paying the customs duty, he said.
The other incentive which the Ministry of Economy and Commerce has planned for the construction industry is a substantial reduction in port-handling and warehouse charges for the imported cement. Already, the government has come to the aid of the embattled construction industry by allowing a grace period for the completion of the projects, besides a wavier in fees and fines for delayed completion.
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