Finance Minister Muhammad Aurangzeb reaffirmed the government’s commitment to supporting the local industry in 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). The Chairman of the Federal Board of Revenue (FBR) also attended.
The steel industry delegation highlighted their performance and proposed strategies for growth, including tax and customs duty adjustments. They stressed the importance of a non-discriminatory approach to turnover tax and advocated for integrating all producers and sellers into the tax net to encourage the organized sector.
The finance minister emphasized the need for government and private sector collaboration to tackle industry challenges and confirmed the FBR’s initiative to expand the tax net. The FBR chairman assured the delegation of continued support and favorable government actions. The delegation expressed gratitude for the support and cooperation from the finance minister and the FBR chairman.
