Steel Industry Seeks Adjustments in Tax and Custom Duties  

Federal Minister for Finance and Revenue Muhammad Aurangzeb held a meeting with the representatives from Pakistan Association of Large Steel Producers (PALSP), Pakistan Steel Melters Association (PSMA), and Pakistan Steel Re-Rolling Mills Association (PSRMA), and Pakistan Steel Pipelines Association (PSPA) at Finance Division today The delegation presented an overview of the steel industry’s performance, alongside potential strategies to enhance its growth. Emphasizing the importance of fostering a conducive environment for industry expansion, they proposed adjustments to tax and custom duties. Furthermore, the delegation advocated for the organized sector’s encouragement and stressed the necessity of integrating all producers and sellers into the tax net. The minister reiterated the government’s commitment to support the local industry. He underscored the FBR’s initiative in expanding the tax net by bringing under-taxed sectors into the tax net. He further emphasized the need for collaborative efforts between the government and the private sector to address the challenges faced by steel industry. The Chairman FBR also assured the delegation of continued support and favorable actions from the government.