The steel industrialists on Monday demanded the withdrawal of the Power Holding Limited (PHL) surcharge to boost the industry and for playing a large role in the growth of the country’s industry.
A delegation of Pakistan Association of Large Steel Producers (PALSP) led by its Secretary General Syed Wajid I. Bukhari visited the Islamabad Chamber of Commerce and Industry (ICCI) to highlight the issues being faced by the large steel producers due to the levy of PHL surcharge and other taxes on the electricity bills and demanded that the NEPRA should withdraw this surcharge to save the steel industry from collapse, said a press release issued here.
Khalid Javed, Nasir Khan, Dawood Khan, Javed Iqbal, Rafaat Farid, and others were in the delegation.
Addressing the delegation, Ahsan Zafar Bakhtawari, President of the Islamabad Chamber of Commerce and Industry said that the steel industry is making a significant contribution to the economic development of Pakistan through its vital role in construction projects, infrastructure building, and industrial development.
He said that the government’s handholding with this industry has the potential to make a significant increase in its exports.
However, he said that this industry is currently facing great problems due to high taxes including the imposition of the PHL surcharge, and urged the government should rationalize high taxes on the steel industry to facilitate its revival and better growth.
He said that the industry provides employment to over 300,000 persons and is a robust support system for numerous downstream industries; therefore, saving it from troubles is crucial to ensure millions of jobs in its downstream industries.
He emphasized that the government should engage the steel industry stakeholders in consultation to address its key concerns so that this industry could play a more effective role in the economic development of the country.—APP
