On Wednesday, Commerce Minister Gohar Ejaz expressed a willingness toexplore the potential of imposing tariffs on imported steel products inorder to protect the local industry. This development occurred during ameeting between the minister and a delegation from the steel industry, ledby National Steel CEO Zaigham Adil Rizvi, at the Ministry of Commerce. Thepurpose of the meeting was to address and resolve obstacles hindering thegrowth of the steel sector, a crucial component of Pakistan’s industriallandscape. The minister reaffirmed his commitment to supporting the steelindustry and ensuring its expansion. He emphasized the importance ofsourcing raw materials locally to alleviate the financial burden on thenational treasury and promote self-sufficiency within the steel industry.He stressed the need for value addition across all sectors and outlinedplans to enhance Pakistan’s export competitiveness, focusing on industrieswhere the country has a comparative advantage. Additionally, he pledged toexplore new export markets to foster growth within the steel industry. Theminister also assured the delegation that promoting growth throughbusiness-to-business interactions with other countries would obviate theneed for subsidies or preferential taxation, thus fostering self-sustainedgrowth. Representatives of the steel industry emphasized the critical roleof affordable energy for their operations. The minister assured thedelegation of his close collaboration with the Minister for Energy toeffectively address this concern. He pointed out that the way forward forthe steel industry and other sectors in Pakistan lies in relying ondomestic raw materials, aligning with the government’s broader vision ofself-sufficiency and economic growth.
Caretaker government takes important decision over revival of Pakistan Steel Mills
