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ITAC urged to remove increased duty on stainless steel fasteners

In what it believes to be an ‘oversight’, Cape Town-based fastener supplier Fastenright is appealing for the removal of the customs duty that was implemented on stainless steel fasteners on April 1. The duty was imposed as part of protection measures for the local fastener manufacturing industry through the implementation of a hot-rolled coil safeguard duty, which was approved by Trade and Industry Minister Dr Rob Davies last month.

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