New Delhi, Jan 27 (KNN) The Aluminium Secondary Manufacturers Association (ASMA) has made a strong appeal to the Finance Minister and Commerce Minister to “stop Injustice against 3500 Aluminium MSME” over recommendations made to fix MIP for import of aluminium metal in the country.

The aluminium downstream products manufacturers like aluminium extrusions, rolled product, utensils etc have made the appeal to the government through an open letter in the newspapers.

“It has been reported in the media that Ministry of Mines has eventually recommended to fix Minimum Import Price (MIP) for import of aluminium metal in the country,” ASMA said

The association said aluminium metal world over is sold based on price prevailing in the London Metal Exchange (LME) to which premium (MJP) as declared quarterly in the international market I added to arrive at the CIF value for import of aluminium metal in any country including India.

Hence, the MIP I already known, ASMA said adding there is no need of fixing MIP for import of aluminium in India.

ASMA alleged this is being done at the behest of giant primary producers of aluminium in private sector who want to mint money by getting protection in the form of higher import duty or levy of safeguard duty and/ or fixing of MIP for which there is no justification.

The association said that the primary producers of aluminium in the country are producing their full capacity and are earning huge profits even with low international price which has already been verified and confirmed by DG (Safeguards).

The downstream MSMEs expressing disappointment said, “In case the Government of India fixe the MIP, it will only help the importers/ manufacturers to generate black money overseas. Since MIP will be higher than the actual import price, hence instead of paying the differential amount to the government of India, the manufacturers will keep the different amount in their foreign account by getting commission from oversea suppliers.”  (KNN Bureau)