The Pakistan Steel
Re-Rolling Mills Association in a press release on Friday highlighted the
practices adopted by steel melting industry and ship breaking industry to make
exorbitant profits. PSRMA members are ultimate user of the products made by
melting industry which is ingots and billets and ship plates obtained from
breaking vessels. From these raw materials, steel re rollers make bars used for
construction, angles, channels, girders and other construction steel products.
These two industries ie
melting and ship breaking, who are in hand in hand internally and show that
they are rivals to the general public, make hue and cry unnecessarily and urge
government to stop import of quality raw material at an affordable price. The
other raw materials that can be used in re rolling industry are imported
billets and re rollable scrap, but they after making cartel are making
arrangements with FBR that imported material, on which the re roller pay more
taxes than these two groups, are fully documented, increase in revenue for
government, perfect standard quality and easily available from across the world
should be blocked and made that expensive that the re roller will pay for their
in efficiencies and they make exorbitant profits.
In a recent development
to blackmail the government, the ship breakers in a meeting held at their
office stopped all deliveries to re rolling mills so that they can blackmail
and harass re rollers who have no option left but to buy from them only at
their terms and conditions and price as their justified source of raw material
which is imported billet and re rollable scrap are made so expensive due to
introduction of regulatory duty and other malafide news in media and their
mills are on the verge of closure due to non-supply of ship plates from ship
breakers and melting industry. PSRMA urge FPCCI, FBR, Finance Ministry and
Ministry of Industries to take notice of these malpractices being done by steel
melting and ship breaking industry. The PSRMA has also approached competitive
competition in this context as well.
Source: Business
Recorder. 23 May 2015
http://www.brecorder.com/agriculture-a-allied/183/1189270/
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