PALSP warns FBR regarding increased steel bars smuggling

The Pakistan Association of Large Steel Producers (PALSP) has issued a stern warning to the Federal Board of Revenue (FBR) regarding the increasing smuggling of steel bars from neighboring Iran and Afghanistan. PALSP’s recent letter emphasizes the alarming scale of steel bar smuggling, posing a significant threat to Pakistan’s steel industry. The association estimates that approximately 500,000 metric tons of steel are illicitly smuggled each year, resulting in a staggering loss of Rs25 billion in tax revenue. PALSP’s Secretary General, Wajid Bukhari, has highlighted the unprecedented magnitude of the smuggling issue, describing it as a critical situation that could lead to irreparable damage if immediate action is not taken.

As the representative of large steel producers nationwide, PALSP has consistently urged the government to implement decisive measures to combat smuggling. Despite a major crackdown initiated by the Federal Board of Revenue (FBR) targeting smuggling operations in various areas, these efforts have proven to be short-lived and unable to provide a lasting solution. Recognizing the gravity of the situation, PALSP has proposed several recommendations to address the smuggling crisis and protect the steel industry. They emphasize the necessity of immediate measures to safeguard the industry, including the exclusive use of sea routes for steel imports to enhance control and supervision. PALSP also suggests the installation of additional checkpoints equipped with advanced scanning devices and equipment to strengthen security measures.