BIMA's 63rd AGM focusing on BIS Quality Order and Safeguard Duty
by Shrutee K/DNS
Mumbai, 25th September,
2015: The 63rd Annual
General Meeting of BIMA (Bombay Iron Merchants’ Association)was heldyesterday i.e 24thSeptember 2015 at Garware House Club
where the industry seniors would discussedabout successful removal of LBT,
fight against BIS Quality Control Order and Safeguard duty; in addition to
felicitating the key members.
63rd Annual
General Meeting of BIMA (Bombay Iron Merchants’ Association) was graced by the
presence ofShri Mohan Gurnani (President, FAM), RajinderMiglani (Chairman,Uttam
Galva), board members of DISMA Steel Chamber of India, BOBA, COMM customs and
other industry dignitaries. Mr.Nilesh Parekh, President BIMA inaugurated the
meeting and laying down the key indicators to highlight performance of the
industry in the past year. He further outlined the achievements of current
board and expressed gratitude for their support. He also celebrated the fact
that the issue of LBT (Local Body Tax) was completely resolved to the liking of
the traders. The tax is now abolished completely and traders are free to
operate.
The
members intensely discussed the action plan to oppose the proposed BIS Quality
Control Order that give unbiased monopolistic rights to the local steel
suppliers by restricting imports and encourages ‘Inspector Raj’. At the meeting
Mr. Parekh rounded up the efforts that association has undertaken so far on the
matter. The association has already voiced its concerns and is soon scheduled
to meet a key minister in Delhi, regarding this matter and rigorously following
it up. They have joined the hands with multiple other associations, SMEs and
MSMEs to further this cause.
The
recent implementation of Safeguard Duty of 20% is another business killer that
had the worried about future of steel traders and SMEs and MSMEs. “These moves
are purely to kill price competition, making the basic raw material costlier.
It’s the SME and MSMEs that would be highly affected and many would have to
shut down businesses. We can’t stay silent on this matter and have to ensure
that Government calls back this move”, shared Parekh.
Amidst
all the serious talk, BIMA is ensuring the worthy performers were felicitated
to keep the momentum going. Key highlight being Mr.ManshukhlalTurakia, Chairman
of M/s TurakhiaFerrometPvt. Ltd will be felicitated with ‘Steel Ratna’ Award for his relentless service towards the industry
for last 60 years.
Details
about association’s move to counter Safeguard Duty would be announced shortly.
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