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Home Steel News Pakistan's steel industry opposes reduction of steel import tariffs
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Pakistan's steel industry opposes reduction of steel import tariffs

29 Apr 2020 12:22 reported by Jamie Yen

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Pakistan's steel industries believed that the recent decision to lower the steel import tariffs carried out by the government might lead to the disintegration of the domestic steel industry. They urged the relevant departments not to change the policies and continue to impose tariffs on imported steel products to protect the domestic steel industry.

Analysts stated that Pakistan’s demand for rebar was almost 4.5 million tons per year. The annual supply was a higher number than the local demand. Meanwhile, many local steel mills had expanded their production capacity last year.

The Pakistan Large Scale Steel Producers (PALSP) said that if tariffs on long steel products such as slab and wire rod being reduced, the local steel mills would be forced to close which turned out the large decline of the domestic steel supplies, a large reduction of revenue and large-scale of unemployment at the end.

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