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Election result of Pakistan Steel re rolling mills association
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Wednesday, 26 Sep 2012

Mr Ali Ahmad was elected the chairman of Pakistan Steel Re rolling Mills Association while Mr Mian Murad Ashraf as vice chairman of Lahore circle and Mr Ghulam Ali Bhatia vice chairman Karachi circle for the fiscal year 2012 to 2013.

The results of the newly elected office bearers were announced at the 51st Annual General Meeting of the Pakistan Steel Re-rolling Mills Association held here at the Lahore Chamber of Commerce and Industry. Steel industry leaders Mr Hafiz Mohammad Akbar, Mr Mian Mohammad Ashraf and a large number of steel industry businessmen were present on the occasion.

The executive committee members for Lahore circle elected for the year 2012 to 13 are Mr Mian Murad Ashraf, Mr Mian Tariq Waheed, Mr Asmat Pervaiz Malik, Mr Mian Arif Mehmood, Mr Khawaja Javaid Iqbal and Mr Khalid Javaid. Executive Committee Members for Karachi circle are Mr Ali Ahmad, Mr Ghulam Ali Bhatia, Mr Shahnawaz Istiaq, Mr Iftikhar Ali, Mr Khalid Khan and Mr Irshad Mowjee.

Earlier, Pakistan Steel Re rolling Mills Association’s newly elected vice chairman Mr Ashraf invited the attention of the government towards the massive PKR 7,000 per tonne sales tax evasion with the result that honest taxpayers of the steel industry are unable to compete with these unscrupulous elements.

He said that the association had a number of times pointed out this evasion to the concerned authorities and so much that the names of these tax evaders were given to the FBR chairman and other concerned authorities but it is very unfortunate that no action has so far been taken. And that a number of re rolling mills and furnaces are closing down or are bound to make huge retrenchments. Whereas the defaulters owe billions of rupees to the sales tax department.

Mr Ashraf said that the government should also implement some foolproof strategy to stop power and gas pilferage as the power and gas theft is hitting the entire steel industry very badly and jacking up the graph of unemployment. He said that the recovery of the bills in Punjab is 98 percent whereas in other provinces is far less making the steel products being produced in Punjab uncompetitive in the market.

He said that 0.5% income tax and 3.5% withholding tax on steel industry exceeds the sales price of steel by INR 2,500 per tonne making the industry unviable. Explaining the point that per tonne profit of steel products is only PKR 500 while the cumulative income tax is PKR 3,000 per tonne.

Mr Mian Tariq Waheed the outgoing chairman of the association said that steel industry should be exempted from load shedding and curtailment of gas. Increase in electricity tariff should be withdrawn and unreasonable high prices of electricity and gas should be minimized up to a possible extent for the survival of the industry. Imposition of sales tax in gas bills should be withdrawn as it was double taxation. Just before the announcement of final results the outgoing chairman presented a detailed report about the challenges faced by the re rolling industry during the preceding year.

Source - Daily


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