Federal Minister for Finance and Revenue Muhammad Aurangzeb met with representatives from the Pakistan Association of Large Steel Producers (PALSP), Pakistan Steel Melters Association (PSMA), Pakistan Steel Re-Rolling Mills Association (PSRMA), and Pakistan Steel Pipelines Association (PSPA) at the Finance Division today.
The delegation provided an overview of the steel industry’s performance and discussed potential strategies for its growth.
Highlighting the importance of creating a favorable environment for industry expansion, they proposed adjustments to tax and custom duties. They also advocated for support of the organized sector and emphasized the need to incorporate all producers and sellers into the tax net.
The minister reaffirmed the government’s commitment to supporting the local industry and highlighted the Federal Board of Revenue’s (FBR) efforts to expand the tax net by including under-taxed sectors.
He stressed the importance of collaboration between the government and the private sector to address the challenges faced by the steel industry. The Chairman of the FBR also assured the delegation of the government’s continued support and favorable actions.
