Pakistan EDB accepts reduction in steel duties

Pakistani Engineering Development Board (EDB) finalized tariff recommendations for Budget 2006-07 on the steel sector, Pakistani sources report. The EDB accepted recommendations for reduction in steel tariffs; however, rejected the recommendations for an increase in the duties in order to keep prices low. At a meeting held with the participation of representatives from Pakistani steelmakers, and from steel related enterprises, the EDB CEO announced that the recommendation for reduction in steel duties was accepted in an effort to keep steel prices low.