Cairo – Mubasher: Egypt’s High Administrative Court overturned a court decision to cancel the Ministry of Trade and Industry’s decision to levy 15% fee on imported iron billets, the Middle East News Agency (MENA) reported on Saturday. 

The decision was aimed at protecting local steel manufacturing companies negatively affected from the increase in imported billets.

On Friday, the trade ministry imposed a 25% duty on steel rebar and a 16% duty on iron billets to be gradually decreased for the next three years.