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KARACHI, Oct 4: Pakistan Steel has cut down its prices of the hot rolled coils by Rs2,500 per ton with immediate effect. Since this would affect a proportional cut in the sales tax as well, the total relaxation in prices would come to about Rs2,800 per ton, says PS statement here on Tuesday.
The decision was taken to discourage dumping of secondary materials, which were being imported mainly through under-invoicing to evade sales tax and import duties, and sold on relatively cheaper prices.
“Pakistan Steel produces and sells only prime quality products which are widely acknowledged by our clients”, the statement claimed.—APP
