Pakistan Industrial & Traders Associations Front (Piaf) has welcomed the latest steps taken by the government to bring supply of steel raw material to normal position.
However, it suggested that engineering and auto industry sectors should be given consumer dealerships to save them from any such crisis on permanent basis.
LCCI Standing Committee on Engineering and Piaf leader, Raees A Sheikh, in a statement issued here on Wednesday said that hike in the price of steel raw material and its non-availability had resulted in closure of hundreds of engineering and auto-vending units and deprived thousands of families from livelihood.
Raees A. Sheikh said that the process of taking decisions about requirements of domestic industry should not be slow. Had steps been taken soon after seeing the market trend in consultation with the businesses, the second biggest sector of the country would never have faced such a situation, he observed.
He said that permission to import re-rollable scrap, import of billets by Pakistan Steel Mills (PSM) and reduction in import duties would certainly ease the situation, but the industry should not be left on the mercy of the market.
He also called upon the government to discourage elements involved in hoarding to create an artificial shortage.