Pakistan plan to impose 10-15% tax on imported steel products

Published: 06 May 2009 01:41:43 PST

May 6 MetalBiz--It is reported that MOIP of Pakistan recently reveals to media that the government plans to impose 10-15% tax on three types of imported steel products (cold-rolled steel, hot-rolled steel, galvanized steel products), in order to protect national steel industry from external products dumping of same kind at low price.

At the requirement of PSM, according to European Union, the United States and Indian way, MOIP proposes above-mentioned advice, and plans to implement after ECC's approval.

Since the global finance crisis, Pakistan steel enterprises have suffered great loss due to the continuous domestic sale downturn and constant prices drop of international steel products. According to statistics, the first 9 months of 2008-2009 year, Pakistan steel enterprises' havel totaled 13bln rupees oss (roughly equal to $163,000,000).