KARACHI, Nov 26: Under the garb of international price hike, some of the steel manufacturers and trader dealers are pocketing about Rs4000 to Rs6000 per ton unfair additional premium from the public on items supplied to them by Pakistan Steel on much lower prices than the international market.

"This, being unethical and immoral, is against the business norms, which is telling heavily on the common man," said a statement of Pakistan Steel here on Friday.

It said that for the information of general public and retail consumers, it is clarified that per ton ex-mill prices of mild steel billets of different sizes including 15 per cent sales tax are from Rs32,488 to 33,868 while hot, cold rolled and galvanised steel coils/sheets are from Rs36,628 to 40,538, Rs41,400 to 48,358 and Rs42,090 to 48,645 respectively.

This price also includes 1.5pc commission for the trader dealers who are not authorized to charge additional premium from steel end-users. Based on above prices, and including freight and conversion charges, the price of iron bars made from Pakistan Steel SR 24 billet should not be more than Rs38,000 per ton in Lahore and Rawalpindi markets.

In Karachi, it should be even slightly cheaper. Iron bars made from Pakistan Steel grade 60 billet used for bridges and multi-storeyed buildings, should not be more than Rs39,500 per ton.

The prices of steel bars manufactured from scrap based local low quality ingots/billets, not supplied by Pakistan Steel, should be less than Rs30,000 per ton as some of these manufacturers do not even pay sales tax. Unfortunately, some of the manufacturers are selling these low quality iron bars on Pakistan Steel Billets-based iron bars rates. -APP