Browsing Tag

Steel

All mild steel products: steel industry proposes 15 percent rise in import duty

June 03, 2014 The domestic steel industry has suggested at least 15 percent increase in import duty on all mild steel products to offset higher cost of production followed by expected 75 percent increase in sales tax. While rejecting the Federal Board of Revenue's (FBR) proposal to increase sales tax by 75 percent to Rs 7 per unit for steel sector, the domestic steel industry particularly Sindh-based units said that huge increase in sales tax will make the imports from China, Ukraine…

Fleet Tanker: steel cutting ceremony held at KSEW

November 28, 2013 The steel cutting ceremony of the 17,000 tons fleet tanker, being built for Pakistan Navy, was held at Karachi Shipyard and Engineering Works on Wednesday. Rana Tanveer Hussain, Federal Minister for Defence Production, was the chief guest. The ceremony was attended by Ambassador of Turkey, Sadiq Babur Girgin, Vice Admiral M. Zakaullah, Vice Chief of Naval Staff, Murad Bayar, Under Secretary Defence Industries Turkey, Lieutenant General Tanvir Tahir (retd), Secretary…

Yang Chung as WSA chief halted: STEEL

October 10, 2013 as new chairman of the World Steel Association (WSA) till October 2014 at its 47th annual meeting held in Sao Paulo on Monday. It is pertinent to note that POSCO is a joint venture partner of Al-Tuwairqi in the project of Tuwairqi Steel Mills in Pakistan and contemplating to invest in the steel sector. Zaigham Adil Rizvi in a statement on Wednesday said Chung has played an integral role in the rise of POSCO as the leading company in the steel industry. A true…

‘TSML strengthening bond between South Korea and Pakistan’

September 29, 2013 South Korean government and business community have explored Pakistan as potential economic hub, willing to invest in different sectors, particularly steel, which offers huge growth opportunities spurred by government's investment-friendly policies. This was stated by the Ambassador of South Korea, Jong Hwan Song, during his visit to Tuwairqi Steel Mills Limited (TSML), Saturday. Terming steel as vital for economic development of any country, he said that TSML is an…

Non-alloy hot rolled steel coils: Clearance of mis-declared consignment blocked

September 19, 2013 Research and Development (R&D) department of customs department has blocked the clearance of mis-declared consignment of 37 thousand tons of non-alloy hot rolled steel coils; it was learnt here on Wednesday. According to sources, the action was taken on a tip-off, which revealed that some unscrupulous elements were planning to evade huge duty and taxes by mis-declaring a consignment of non-alloy hot rolled steel coils. They said that around 55 thousand tons of…

Steel unit sealed for gas theft

July 17, 2013 An official spokesman said on Tuesday that in accordance with the directive of Punjab Chief Minister Muhammad Shahbaz Sharif to take strict action against gas and electricity theft, a raid was conducted at Jutte Steel Mill, which is situated on Jamke Road, Sheikhupura on a complaint of gas theft. According to details, on July 9 2013 a complaint was received Deputy Chief Engineer Habib Ahmed about the theft of gas by the same factory. The theft was done by using bypass…

China steel prices still face headwinds -industry body

By Asad Naeem Wednesday, 14 November 2012 SHANGHAI: A recent rally in steel prices in China, the world's top steel market, may lose steam as overcapacity continues to eat into steelmakers' margins, offsetting a recent drop in inventories, the China Iron & Steel Association (CISA) said on Wednesday. Total inventories of five main steel products including hot-rolled coil and rebar in 26 major markets fell 2.8 percent from the end of October to 12.08 million tonnes on…

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More