Islamabad, Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, convened a meeting with key stakeholders from the steel industry to discuss the sector’s performance and explore avenues for growth through strategic adjustments in tax policies and regulatory measures. The meeting included representatives from various steel associations and the Chairman of the Federal Board of Revenue (FBR).

According to Press Information Department, the discussions focused on enhancing the steel industry’s growth potential and addressing the concerns raised by 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 industry leaders expressed gratitude for the opportunity to voice their concerns directly to the government.

The delegation presented an overview of the current state of the steel industry and proposed specific adjustments to tax and custom duties to foster a more conducive environment for industry expansion. They also emphasized the importance of integrating all producers and sellers into the tax net to ensure a level playing field.

Senator Aurangzeb reiterated the government’s commitment to supporting the local industry and highlighted the FBR’s initiatives aimed at expanding the tax base, particularly by targeting under-taxed sectors. He stressed the need for collaborative efforts between the government and the private sector to address the challenges faced by the steel industry.

The Chairman of the FBR assured the delegation of the government’s continued support and favorable actions to help the sector thrive. The meeting concluded with the delegation thanking the Federal Minister and the Chairman FBR for their support and cooperation.