{"id":66993,"date":"2020-06-22T18:01:51","date_gmt":"2020-06-22T13:01:51","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66993"},"modified":"2020-06-22T18:04:52","modified_gmt":"2020-06-22T13:04:52","slug":"allowing-billets-import-negates-govts-make-pakistan-policy-steel-producers-rectifying-anomaly","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/allowing-billets-import-negates-govts-make-pakistan-policy-steel-producers-rectifying-anomaly.html","title":{"rendered":"&#8220;Allowing billets import negates govt&#8217;s &#8216;Make in Pakistan&#8217; policy&#8221;; steel producers for rectifying anomaly"},"content":{"rendered":"\n<p>Islamabad: Steel producers in the country on Sunday called on the government to rectify anomalies concerning the steel sector in the federal budget 2020-21, a news source reported. They specifically noted that the executive&#8217;s current stance on allowing the import of billets negated its \u2018Made in Pakistan\u2019 policy.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/steel-industry-requests-permission-resume-operation.html\" target=\"_blank\" rel=\"noreferrer noopener\">Steel industry requests permission to resume operations to assist construction sector<\/a><\/p>\n\n\n\n<p>To this effect, the Pakistan Association of Large Steel Producers (PALSP) indicated that there were only three to four manufacturers in the country for producing wire rods with billets. They added that the import policy would hurt the existing construction bars manufacturers, shut down steel billets manufacturing in the country, reduce local revenues, negatively impact foreign exchange of Pakistan, and negate the \u2018Made in Pakistan\u2019 policy.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/govt-to-hold-psm-ownership.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt to retain control of Pakistan Steel Mills; partial revival on the cards: PSM Chairman<\/a><\/p>\n\n\n\n<p>In other anomalies for rectification, the steel producers indicated the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Bring customs duty on heavy meltable scrap to zero<\/li><li>Reduction in duties on billets for wire rod manufacturers<\/li><li>Equate cost of all three materials used for producing construction bars<\/li><li>Exempting steel sector from section 8b of the Sales Tax Act 1990<\/li><li>Amendment in section 27a of the Customs Act to discourage mutilation of prime steel products<\/li><li>Amendment in PCT Code 9917 so that local materials meet international standards for being used in local mega projects<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Steel producers in the country on Sunday called on the government to rectify anomalies concerning the steel sector in the federal budget 2020-21, a news source reported. They specifically noted that the executive&#8217;s current stance on allowing the import of billets negated its \u2018Made in Pakistan\u2019 policy. Read: Steel industry requests permission to resume operations to assist construction sector To this effect, the Pakistan Association of Large Steel Producers (PALSP) indicated that there were only three to four manufacturers in the country for producing wire rods with billets. They added that the import policy would hurt the existing construction bars manufacturers, shut down steel billets manufacturing in the country, reduce local revenues, negatively impact foreign exchange of Pakistan, and negate the \u2018Made in Pakistan\u2019 policy. Read: Govt to retain control of Pakistan Steel Mills; partial revival on the cards: PSM Chairman In other anomalies for rectification, the steel producers indicated the following: Bring customs duty on heavy meltable scrap to zero Reduction in duties on billets for wire rod manufacturers Equate cost of all three materials used for producing construction bars Exempting steel sector from section 8b of the Sales Tax Act 1990 Amendment in section 27a of the&hellip;<\/p>\n","protected":false},"author":68,"featured_media":63768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012,15013],"tags":[32535],"persona":[],"class_list":{"0":"post-66993","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"category-construction","9":"tag-details-on-allowing-billets-import-negates-govts-make-in-pakistan-policy-steel-producers-for-rectifying-anomaly","10":"cat-15012-id","11":"cat-15013-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>&quot;Allowing billets import negates govt&#039;s &#039;Make in Pakistan&#039; 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