09
Jun
01:00
PSM denies raw material shortage, justifies call for 30% HRC import duty
Pakistan Steel (PSM) has approached the government to raise the duty on imports of hot rolled coil into Pakistan to 30% from the current 12.5%, Kallanish learns from the steelmaker. It also wants to levy boron-added steel with the same tariff.
The 12.5% HRC import duty was implemented in March in order to safeguard PSM’s revival. The state-owned producer is working on returning to profitability after posting losses consecutively since 2008. However, be…
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