Implementable decree on consumer loan ready for application
Photo: archive
Applied rules on consumer loan that has been included in the 2015 Finance Act will determine the percentage of a given integration of each national product that is qualified for the consumer loan, rather than the adoption of a single rate, at a time the process of drafting the implementable decree for the article that ensures the return of consumer loan that will soon be presented to the government for consideration.
According to the team in charge of reactivating this mechanism, this legal article is about the failure to adopt a fixed rate for all products, and this is contrary to what has been proposed within the body in charge of the protection and development of the national production, that is issued from the last tripartite meeting.
This team already proposed a rate of integration that is equal to or larger than 40%, according to global standards and criteria, in line with the national industrial fabric for the concerned branches.
“It comes to suggestions, but after consultations, we become convinced that 40% is a very exaggerated rate for some articles”.
“In fact, we find that the national industry of some high-tech products (computer hardware and cars), requires importing some components, which are not manufactured in the local market, but if we set integration rate by 40% for this type of products, there will not be a reactivation of our national production activities”.
“This is a way to engage the Algerian producers in transform productivity of knowledge. I do not rule out reviewing the integration ratios, just when controlling the production of these components. For example ‘Renault Symbol’ is manufactured in Algeria, which will be fully involved in the consumer loan, because it is the national qualified product for the consumer loan.”