Islamabad: May 30, 2024 : Federal Minister for Finance and Revenue Senator 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 on Thursday. Chairman FBR was also present in the meeting.
The delegation expressed gratitude to the Finance Minister for providing them with the platform to express their concerns. They 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.
Senator Mr. Muhammad Aurangzeb 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. The Minister 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.