Chairman of the All Pakistan Steel Re-Rolling Mills Association and former Vice President FPCCI Karim Aziz Malik has urged the government to include the steel re-rolling sector in the economic recovery package to ease this sector out of the current economic crisis.
Steel re-rolling sector provides huge employment and pays billions of rupees in taxes and utility bills so government should include this sector in the economic recovery package he maintained.
The banks’ high interest rates, 1.5 percent turn over-tax, rising energy prices and the withdrawal of fixed sales tax facility from the steel sector have also added to the problem of the steel sector.
He demanded that interest rates for the steel sector should be zeroed, interest payments on former loans should be delayed for six months and turnover tax should be reduced from one and a half percent.
