Pakistani steel producers demand government to lift steel duties
Pakistani iron and steel producers demanded the government to remove all taxes on steel products with an immediate effect as they have been suffering from shortage of raw material and rising prices. It is reported that the shortage of raw material has mostly impacted small and medium size steel producers and the housing sector, which could not keep up the rising steel prices. Moreover, automobile and other steel related industries are negatively impacted by rising prices and shortage of raw material. As previously reported by SteelOrbis, Pakistan government took certain measures to help local producers, such as reducing customs duty on imports of re-rollable scrap from 25% to 10% and lifting the withholding tax of 3% on import of ships for scrapping and withholding tax of 6% on imports of raw materials and intermediary products.