Steel producers body urges govt to solve issues.

LAHORE -- The Pakistan Association of Large Steel Producers (PALSP) on Sunday urged the government to resolve its longstanding issues on priority.

`The PALSP believes that the government`s economic teamhasmade appropriate effort by not adding to the problems and the challenges of the industry, and also for taking some of the measures to facilitate this industrial sector in the prevalling difficult situation of Covid-19. We hope that the government will address some of the long-standing issues and problems of the industry on war footing, as this support will enable us to meet the entire demand of steel locally for the Prime Minister`s ambitious Naya Pakistan Housing project, the PALSP said in a press release.Over 200 units in the country are engaged in primary steel manufacturing with a combined capacity of over four million tonnes.

This sector generates approximately Rs100 billion in government revenue and is the sole supplier of steel to the construction industry.

The steel manufacturers said that in the 2020-21 budget, the government had granted permission to wire rod manufacturers to import billets by massively reducing duties and taxes that will likely be misused, as many...