Islamabad, Pakistan: Federal Minister for Finance and Revenue, Muhammad Aurangzeb, convened a meeting 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 yesterday.
The delegation presented a comprehensive overview of the steel industry’s performance and outlined potential strategies to foster its growth. They emphasized the importance of creating a conducive environment for industry expansion, proposing adjustments to tax and customs duties. Additionally, the delegation advocated for measures to support the organized sector and stressed the necessity of integrating all producers and sellers into the tax net.
Minister Aurangzeb reiterated the government’s commitment to supporting the local industry. He highlighted the Federal Board of Revenue’s (FBR) initiatives to expand the tax net by including under-taxed sectors. He further emphasized the need for collaborative efforts 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 continued support and favorable actions from the government, reinforcing the administration’s dedication to the sector’s growth and development.
