LAHORE: The Pakistan Steel Melters Association has sent a SOS signal to DISCOs and FBR as documented steel melters are facing serious threat, to the tune of complete closure of industry, from the mushroom growth of unregistered furnaces, with 1 Ton capacity, which are actively involved in mega electricity theft in connivance with culprit officials of DISCOs, moreover evading Income tax and sales tax, by cheating FBR’s monitoring system.
The prices of steel products of such offenders are much less than the actual cost of production of the registered steel melters, who are regularly paying the actual electricity bills to DISCOs and depositing all the applicable taxes to the Government.
These circumstances have resulted in a miserable situation for the steel melters to bear the huge losses on their products leading to closure of their businesses and unemployment of poor masses.
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The Association has demanded stern action against black sheeps of DISCOs who are facilitating electricity theft. Furthermore, the Association has given a wakeup call to the authorities to control smuggling of steel in the border areas of Iran and Afghanistan, as cheap steel products are adding fuel to the fire under the given conditions.
Copyright Business Recorder, 2024
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