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BUSINESS IN SHORT

Car-scrapping – to be continued?

THE SUCCESS of the car-scrapping bonus among Slovaks could lead to an increase in the amount of money assigned to this purpose from the state budget. The government originally authorised €33.2 million for this purpose in February, but Prime Minister Robert Fico announced even then that if the bonus proved to be a successful tool in increasing the purchase of new cars, that this might not be the final sum, the SITA newswire reported.

Slovaks used up the budget for car-scrapping bonuses.(Source: me Vladimír Šimíček)

THE SUCCESS of the car-scrapping bonus among Slovaks could lead to an increase in the amount of money assigned to this purpose from the state budget. The government originally authorised €33.2 million for this purpose in February, but Prime Minister Robert Fico announced even then that if the bonus proved to be a successful tool in increasing the purchase of new cars, that this might not be the final sum, the SITA newswire reported.

The Economy Ministry asked to increase the amount allotted to the car-scrapping bonus by another €33.2 million during a cabinet session on March 25, but the Finance Ministry put a temporary brake on the discussion. A final decision should be made at the beginning of April.

The original €33.2 million was used up by March 26.

While the bonus is an advantage for car buyers, scrap yards owners have already had difficulties dealing with it: customers are literally queuing in front of their yards trying to have their old cars scrapped as soon as possible to be among the ones who can still qualify. And some car wreckers say they do not have enough cash to pay the recycling fee of €33.19, an amount defined by law, to their customers, the Sme daily reported.

The recycling fee is supposed to be refunded by the Recycling Fund to the scrapyard owners once a month, but according to the car-scrappers this is not often enough.

Other problems Slovak scrap yards are facing are falling prices for scrap metal as well as the accumulation of scrap material, since almost 2,000 old cars are now being scrapped every day, Sme wrote.

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