Pakistan’s Engineering Development Board (EDB) has called on the Ministry of Industries and Production to declare scrap as an essential raw material and to allow the opening of letters of credit (LCs) for scrap and other steel-related product imports. Local producers have been facing issues regarding the availability of scrap in the country for a while amid the impossibility of opening new LCs.
The EDB stated that the imports of any necessary raw material, which is not produced by local manufacturers, should not be restricted in order to support finished goods production, otherwise the local manufacturing industry will be injured.