15 September 2013

Pakistani Steelmakers seek tax relaxation:

Wednesday, September 11, 2013 - Karachi—Pakistan Steel Manufacturers’ Association (PSMA) has demanded the government to withdraw tax exemptions from ship-breaking industry to create level-playing field for all players in the industry.

Taking to journalists, Abbas Akberali of Amreli Steels Limited and Khalid Khan of Abbas Steel Group, said that exemptions of a few taxes and duties to the ship-breaking industry and recent increase in the electricity tariff by Rs5,000 per ton for the association’s members, have given big advantages to the ship-breaking industry over members.

“Economic advantages to ship-breakers make their products cheaper by Rs12,000 to Rs16,000 per ton than the products made by other players in the industry,” Akberali said.

He said that there is an agreement between the ship-breakers and other players in the steel industry that the difference in price of ship-breakers and others’ products will not be greater than Rs1,200 per ton.

Source: Pakistan Observer. 12 September 2013

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