However, our appeals were not heeded, and the ministry refused to act,” said PALSP lamented. According to the steel industry, in the budgetary proposals for the last year 2020-21, FBR authorities requested amendment in the Customs rules to disallow the mutilation of steel at ports. The steel industry has also urged the MoC and FBR to address the issue on merit, which is of great national importance. If this matter remains unaddressed, it would be a recipe of deindustrialisation of the steel industry. The menace of misdeclaration of new steel as scrap is not only causing a revenue loss of billions to the national exchequer but also destroying documented steel manufacturers who pay taxes and have the potential to make Pakistan as a steel exporting country.

Source: Pakistan Today April 21, 2021 14:59 UTC