Pakistan Revenue
The Pakistan Association of Large Steel Producers (PALSP) has lauded the strategic tax reforms introduced in the 2024-25 budget, heralding a significant boost for the steel industry.
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The Pakistan Association of Large Steel Producers (PALSP) has formally petitioned Finance Minister Muhammad Aurangzeb, urging an end to what it describes as discriminatory tax practices that adversely affect the steel sector compared to other industries.
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Islamabad, February 24, 2024 – The Competition Commission of Pakistan (CCP) has given the green light to three pivotal mergers involving the Saudi Iron and Steel Company (Hadeed), a major player in Pakistan’s steel market.
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The Pakistan Association of Large Steel Producers (PALSP) has expressed concern about the widespread smuggling of steel from Iran and Afghanistan, which is having a detrimental impact on the domestic industry.
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ISLAMABAD: Production of steel products has been drastically affected due to shortage of scrap as banks are not processing letter of credits (LCs).
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ISLAMABAD: Steel industry is at brink of collapse due to shortage of raw material and overhead costs. This scenario is compelling large producers to stay afloat as costs continue to mount.
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ISLAMABAD: The government has abolished special sales tax procedure for steel sector through Finance Bill 2019 and imposed 17 percent federal excise duty in sales tax mode. According to amendment proposed to Federal Excise Act, 2005 through Finance Bill 2019, normal tax of 17 percent ad valorem has been proposed on supply of steel billets, […]
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