The Pakistan steel industry has urged the government to draft a clear and comprehensive policy on tax rates and tariffs to ensure stability and smooth operations for the sector. This request was made during a meeting on Friday between a delegation from the Pakistan Association of Large Steel Producers (PALSP) and Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan.
Steel manufacturers voiced concerns over what they called discriminatory policies, which they believe are threatening the industry's stability. They stressed the importance of having a well-defined policy framework that addresses tax rates, tariffs, and other regulatory aspects, helping the sector operate more effectively.
SAPM Haroon Akhtar Khan acknowledged the concerns raised by the steel manufacturers, particularly regarding tariffs. He reassured the delegation that the government is working actively to support the sector. While manufacturers called for a reduction in import tariffs on finished steel goods, Khan clarified that the downturn in the industry was not due to regulatory duties or government-imposed barriers. Instead, he attributed the decline to reduced demand in the market.
Khan emphasized the government's commitment to supporting the steel industry and its ongoing efforts to reform the tariff policy in line with the Prime Minister's vision. He assured the manufacturers that the government plans to gradually phase down additional customs duties and adjust regulatory duties over time. The aim is to balance national budget requirements while providing relief to sectors like steel.
The SAPM also highlighted that the government is continually refining its policies to ensure the steel industry receives the necessary support for long-term stability. He concluded by reaffirming the government's commitment to engaging with the industry and finding solutions to address its concerns.
