The Pakistan Steel Melters Association has raised serious concern over recently announced Budget and Finance Bill 2025-26. The decision of the Government to reduce the Customs/Regulatory Duty on Steel Billets to 5%, alongside the overall reduction in tariff slabs, poses an existential threat to the local steel melting industry.
Steel Melters are already facing immense difficulties as many units are already shutdown. The proposed reduction in customs/regulatory duty on imported steel billets will exacerbate this precarious situation, making imported billets significantly cheaper than locally produced ones.
Mian Ahmad Hassan, Chairman of PSMA stated that this move will inevitably lead to a massive influx of imported steel billets, effectively closing down the local steel melting industry. The repercussions of such a decision would be catastrophic, leading to widespread massive unemployment among our skilled and unskilled labour force causing social unrest and instigate law & order situation.