Metal recycling policy to fetch right price for junked cars, fridges

Metal Recycling Policy is likely to be finalised over the next few months.

People owning old cars and white goods will soon have a choice of selling these junked items to registered scrap dealers at pre-determined prices, once the Metal Recycling Policy -- being jointly prepared by the Niti Aayog and Steel Ministry -- is put into action.

The Metal Recycling Policy, on which the Niti Aayog has already met various stakeholders, is likely to be finalised over the next few months.

"We have a huge wealth in the form of metal scrap...We (Niti Aayog and Steel Ministry) are working on Metal Recycling Policy.

"We want to look at scrap management in an organised manner. Why can't we set up multiple scrap centres in every part of the country where people can deposit old cars, old fridges, washing machines and get the right price?" Vijay Kumar Saraswat, member, Niti Aayog said.

The policy is likely to take into account the implications of National Green Tribunal (NGT) ruling on banning over 15 years old diesel and petrol vehicles in the National Capital Region (NCR) and recent Supreme Court judgement of banning sales of BS-III vehicles in the country from 1 April.

The use of metal scrap is actively promoted by several developed countries like Germany, Sweden, Finland, Russia, Turkey, Australia and the USA.

According to industry estimates, the average recycling rate in these countries is over 80 per cent, while India's recycling rate is merely 20-25 per cent.