KARACHI – Chairman of the All Pakistan Steel Rolling Mills Association, former Vice President FPCCI Mr. Karim Aziz Malik has said that Prime Minister Imran Khan is pleased to announce a package for economic recovery which the public And the problems of the business community will decrease.
The private sector should be strongly consulted for the economic recovery package so that the package is successful and the overall situation is improved. Karim Aziz Malik said in a statement that the steel re-rolling spectrum of billions of people paying jobs and government to billions of rupees in terms of electricity and gas billions is weakening, so it is included in the economic recovery package to be done.
He said business activities have been reduced due to the Corona virus which has put the steel industry in crisis. While the construction sector is not active, work on CEPEC and other development projects has been closed for several months, which has added to the problems for the sector. He said the banks’ high interest rates, 1.5% turnover tax should be reduced upto 25%, rising energy prices and the withdrawal of fixed sales tax facility from the steel sector have also added to the problem of the steel sector.
He said that interest rates for the steel sector should be reduced to zero, interest payments on previous loans should be delayed for six months. Turnover tax should be reduced from one and a half percent to .25% be able to adapt. Malik said Our buisness community stand with Government and fight against Corona virus.
