Pakistan's steel industry opposes tariff cut
2020-09-18 13:46:04 [Print]
Voicing opposition to a proposal sent to the government for reducing the tariff on imported finished or semi-finished steel products, the domestic industry has emphasized that the move will destroy the industry and unleash a new wave of unemployment in the country.
Earlier this year, the National Tariff Commission suggested to the Tariff Policy Board to rationalize the tariff on imported finished or semi-finished steel products, but it was opposed by the local industry and faced delay.
According to the steel industry, the proposal is being considered again with a few minor tweaks.
"Any reduction in tariff on imported finished or semi-finished steel products under the garb of tariff rationalization will result in de-industrialization in the country followed by the closure of steel industry," remarked Pakistan Association of Large Steel Producers Secretary General Wajid Bukhari. "It will also trigger massive unemployment across the country."
In a statement on Wednesday, Bukhari pointed out that the import tariff reduction without providing a globally competitive business environment in Pakistan would surely spark de-industrialization.
Earlier this year, the National Tariff Commission suggested to the Tariff Policy Board to rationalize the tariff on imported finished or semi-finished steel products, but it was opposed by the local industry and faced delay.
According to the steel industry, the proposal is being considered again with a few minor tweaks.
"Any reduction in tariff on imported finished or semi-finished steel products under the garb of tariff rationalization will result in de-industrialization in the country followed by the closure of steel industry," remarked Pakistan Association of Large Steel Producers Secretary General Wajid Bukhari. "It will also trigger massive unemployment across the country."
In a statement on Wednesday, Bukhari pointed out that the import tariff reduction without providing a globally competitive business environment in Pakistan would surely spark de-industrialization.
