June 17, 2008	Tuesday	Jamadi-us-Sani 12, 1429

KARACHI, June 16: The Karachi Iron Steel Merchants Association has appreciated the government announcement of reducing advance income tax on commercial imports.

A delegation of the association met the President of Karachi Chamber of Commerce and Industry, Shamim Ahmed Shamsi, and discussed the federal budget here on Monday.

The delegation was of the view that if iron steel flat rolled products were declared raw material, a revolutionary change may occur in the engineering industry, particularly the cottage industries.—PPI