Pakistan's steel industry opposes lowering steel import tariff
According to foreign media reports, the steel industry is opposed to the Pakistan government's recent proposal to reduce the tariff on imported steel, which will destroy the industry and cause a new round of unemployment in the country.
Earlier this year, Pakistan's National Tariff Committee proposed to rationalize the tariff on imported steel. After being opposed by the steel industry, Pakistan's national tariff committee is facing an extension. The Tariff Committee said the proposal would be put forward again after some minor adjustments.
"Any reduction in tariffs on imported steel will have an impact on the local steel industry and will trigger massive unemployment across the country," said Wajid Bukhari, general secretary of the Pakistan Steel Association. The steel industry produces more than $1.2 billion worth of steel substitutes each year. "
Pakistan will produce 2 million tons of steel in 2019, and the steel industry directly employs more than 50000 people.
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