Govt to provide incentives for steel production

Commerce Minister Khurram Dastgir Khan on Tuesday said that government would introduce incentives policy to introduce latest technology in the country in order to improve the quality of products of different industries.
While talking to a delegation of Pakistan Steel Melters Association, the commerce minister said that Pakistani products could not compete the goods of other countries due to the use of old machinery, which also increases their production cost. He further said that government would provide incentives to the domestic industry for the production of steel.
The delegation informed the minister regarding issues faced by the industry. They informed that they could not compete with Chinese production, as the Chinese government provides subsidy to their industry.

Similarly, they demanded of the government for imposing ban on import of steels in order to save the local industry, as did by other countries like Turkey, Malaysia, Thailand and others. The commerce minister assured the delegation that government would consider their issues. He added that Commerce Ministry would consult Federal Board of Revenue and Ministry of Industries and Production in this regard.

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