{"id":92701,"date":"2023-03-02T16:10:59","date_gmt":"2023-03-02T11:10:59","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=92701"},"modified":"2023-03-02T16:11:01","modified_gmt":"2023-03-02T11:11:01","slug":"abad-withdraw-duties-steel-scrap","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/abad-withdraw-duties-steel-scrap.html","title":{"rendered":"ABAD urges govt to withdraw duties on steel scrap\u00a0"},"content":{"rendered":"\n<p>Karachi: Association of Builders and Developers of Pakistan (ABAD) Chairman Altaf Tai demanded the government to reverse the Regulatory Duty (RD) and Additional Regulatory Duty (ARD) imposed on the import of steel scrap in a bid to support the construction industry, according to news published in the leading newspaper on March 2.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/abad-barter-system-construction.html\" target=\"_blank\" rel=\"noreferrer noopener\">ABAD for implementation of barter system in construction industry\u00a0<\/a><\/p>\n\n\n\n<p>In a press conference, the chairman shared that when the prices of steel scraps were low in the international market, the association accepted the duties imposed by the government. Now, the government should abolish the duties in order to provide relief to the construction sector.&nbsp;<\/p>\n\n\n\n<p>Optimus Research Steel Sector Analyst Mehroz Khan stated that the reduction in the said duties on imported steel scraps will have a positive impact on the cost of long steel producers and it will translate in the rebar prices. It was mentioned that the <a href=\"https:\/\/www.zameen.com\/news\/steel-prices-increased-scrap-material-hike.html\" target=\"_blank\" rel=\"noreferrer noopener\">steel manufacturers <\/a>have formed a cartel to keep the prices high, despite the low price of raw materials in the international market.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/plspa-quality-standards-steel.html\" target=\"_blank\" rel=\"noreferrer noopener\">PLSPA urges govt to enforce quality standards in steel products<\/a><\/p>\n\n\n\n<p>Moreover, ABAD Patron-in-Chief Mohsin Sheikhani shared that ABAD\u2019s boycott of steel purchases forced the steel manufacturers to bring down the price of the steel. He added that approximately, 25 million people are connected with the construction industry and due to the soaring construction material prices, 350 projects are halted. To revive the industry, the government must reverse the duties.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: Association of Builders and Developers of Pakistan (ABAD) Chairman Altaf Tai demanded the government to reverse the Regulatory Duty (RD) and Additional Regulatory Duty (ARD) imposed on the import of steel scrap in a bid to support the construction industry, according to news published in the leading newspaper on March 2.\u00a0 Read: ABAD for implementation of barter system in construction industry\u00a0 In a press conference, the chairman shared that when the prices of steel scraps were low in the international market, the association accepted the duties imposed by the government. Now, the government should abolish the duties in order to provide relief to the construction sector.&nbsp; Optimus Research Steel Sector Analyst Mehroz Khan stated that the reduction in the said duties on imported steel scraps will have a positive impact on the cost of long steel producers and it will translate in the rebar prices. It was mentioned that the steel manufacturers have formed a cartel to keep the prices high, despite the low price of raw materials in the international market.\u00a0 Read: PLSPA urges govt to enforce quality standards in steel products Moreover, ABAD Patron-in-Chief Mohsin Sheikhani shared that ABAD\u2019s boycott of steel purchases forced the steel manufacturers&hellip;<\/p>\n","protected":false},"author":83,"featured_media":78380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15013],"tags":[56567,40376],"persona":[],"class_list":{"0":"post-92701","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction","8":"tag-abad-urges-govt-to-withdraw-duties-on-steel-scrap","9":"tag-association-of-builders-and-developers-abad","10":"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>ABAD urges govt to withdraw duties on steel scrap\u00a0 - Zameen News<\/title>\n<meta name=\"description\" content=\"Association of Builders and Developers of Pakistan (ABAD) Chairman Altaf Tai demanded the government to reverse the duties on steel scrap...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/abad-withdraw-duties-steel-scrap.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ABAD urges govt to withdraw duties on steel scrap\u00a0 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Association of Builders and Developers of Pakistan (ABAD) Chairman Altaf Tai demanded the government to reverse the duties on steel scrap...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/abad-withdraw-duties-steel-scrap.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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