Regulatory news update house okays

Under fisheries administrative order FAO , the agriculture secretary may issue a CNI for wet market consumption during closed fishing season and during occurrence of calamities. In a separate Special Order SO , which Dar also issued last December 30, the government outlined the guidelines for the 11,MT frozen small pelagic fishes importation.

The SO pointed out that the volume should be sold in Visayas and Mindanao areas only. Transfer of allocation will not be allowed, according to the order. A bill of lading will be required for the issuance of the SPS-IC and an eligible importer must have used at least 70 percent of their volume in the previous round of importation. Royalties on potassium would be slashed to 0. The changes in royalties are part of a wider reform effort launched by Temer to boost the sector and help a nascent economic recovery.

The lower house also approved a related proposal to create an autonomous oversight agency called ANM and is set to consider a third measure streamlining mining rules. Proponents argue that jointly the proposals offset higher taxes with greater regulatory efficiency. But the three policies must be fully approved by Nov. Vale, as the major producer of iron ore in Brazil, would be the biggest winner if the proposal on royalties fails and the rates remain unchanged, Araujo said.

The bill on revised mining rules has yet to go to a vote in the lower house and is at greater risk of missing the deadline, he said. Brazil collected 1. The mining ministry said the initially proposed rate hikes would raise collections 80 percent.

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