Budget Proposals: Steel industry seeks relief

ISLAMABAD: The steel industry has asked the PTI led-government to remove regulatory and custom duty on primary raw material, steel scrap and continuation of special procedures for collection of sales tax from this sector in the upcoming budget 2019-20.[the_ad id=”31605″]According to letter written by steel industry to Adviser to PM… Continue reading

After shocks of construction ban Steel re-rolling mills in Sindh, Balochistan closed

KARACHI: The ban on construction of high-rise and other buildings has started taking toll as all steel re-rolling mills in Sindh and Balochistan have been closed for indefinite period for want of customers and almost 25 thousands workers have lost their livelihoods. Muhammad Hassan Bakshi, Chairman Association of Builders and… Continue reading

Sales tax on electricity increased for steel industry

KARACHI: The Federal Board of Revenue (FBR) has enhanced the rate of sales tax to 10.5 percent from 9 percent on each unit of electricity consumed for the production of steel billets, ingots and mild steel products excluding stainless steel. FBR issued SRO 583(I)/2017 regarding payment of enhanced rates of… Continue reading