Karim Aziz Malik and Irshad Mowjee have been elected as chairman and vice chairman, respectively, of the Pakistan Steel Re-Rolling Mills Association (PSRRMA) for the year 2017-18. In the Annual General Meeting held on Friday, Mian Muhammad Ejaz and Ameer Ali Kazani have also been elected as vice chairmen for Lahore and Karachi circles, respectively.
Karim Aziz Malik, Mian Muhammad Ejaz, Mian Muhammad Hammad Ashar, Mian Manzoor Ahmad, Mian Murad Ashraf and Khawaja Javed Iqbal have been elected as member executive committee Lahore while Irshad Mowjee, Ameer Ali Kazani, Sheikh Khurram Ishtiaq, Siraj Chatoor, Ali Asghar and Jawed Jewani have been elected as member executive committee Karachi.
The elected body demanded of the government to immediately withdraw notices of further tax of 2 percent issued to the steel industry as the payment of sales tax made under special procedure of sales tax are full and final. It also said the value of billet to be specified in special procedure of sales tax 2017 at the rate of $400 per metric ton for valuation purpose at the import state. In view of huge problems faced by the industry, fix income tax based on per unit of electricity be charged and considered full and final discharge of income tax liability.
It also demanded that withholding tax being collected under Sec 235/B should be restored and reduced from Rs 1.00 to Rs 0.50. The Section 236-G and 236 H of the Income Tax Ordinance should not be made applicable upon those re-rolling mills which are under sales tax special procedure.
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