The government has almost finalised the duty structure for some steel products to be incorporated in the next fiscal budget, Business Recorder learnt here on Wednesday.
Well-placed sources said that the Engineering Development Board (EDB) proposed increase in duty of some steel items to protect the local industry. It was learnt that the board has proposed 15 percent increase in 15 import duties (from 20-50 percent) on ingot and rectangle of propels steel.
Similarly, an increase of 15 percent was proposed on HRC Steel sheet. On bars and rods import duty proposed on the products of Pak Re-rolling Mills Association is 25 percent; Amreli Steel, 15 percent; and Mughal Steel, 20 percent from the present 10 percent.
On copper wire 10 to 20 percent import duty has been proposed, standard wire cable, 20 to 25 percent, whereas on the pistons of vehicles of Chapter 8701 for tractor up to 55 HP, 35 to 50 percent duty has been proposed.
The duty on other items has been proposed from 35 to 50 percent on cylinder liners for vehicles of Chapter 87, 10 to 25 percent on fuel dispensing units, 10 to 25 percent on ring spinning frames (textile spinning machines), 10 to 20 percent on power looms for weaving fabric of width exceeding 30-cm shuttle type, 20 to 25 percent on precision centre lathe, 20 to 25 percent on universal drilling machine, from 20 to 25 percent on copy milling, milling machine, 20 to 25 percent on other AC Motor Murv-Phase and Submersible Motor of Stankes Steel and from 20 to 25 percent on AC Generator (Alternators) an output not exceeding 55KVA and of an output exceeding 55KVA, but not exceeding 375KVA and other generators of various outputs.