Ministry of Industries has called a high-level meeting of steel stakeholders on Tuesday at Islamabad on rising price. Jehangir Tareen minister for industries will chair the meeting.
While Major General Muhammad Javed (Retd), Chairman, Pakistan Steel, Azam Malik, Chairman, Pakistan Ship Breakers Association, representatives of Pakistan Iron and Steel Merchants Association and other stakeholders would attend the meeting.
Raised in the sales tax on iron and steel by 5 percent to 20 percent in the next fiscal budget have put a negative impact on its prices, resulted steel products prices have shot up by Rs 5,000 per tonne in the domestic market.
Some stakeholders of steel sector meets Abdullah Yousuf, Chairman, Central Board of Revenue on Thursday and the second meeting was fixed on Monday, which not has happened due to ministry of industries meeting. Stakeholders' point of view that raised in the sales tax is main reason behind the prices hike of steel products, therefore stakeholders would demand previous level of sales tax in the meeting.