The government is preparing the first-ever national policy for steel sector to exploit its potential besides provide incentives to the industry to enhance its production capacity. The Engineering Development Board (EDB) has taken up the job to consult the stakeholders of the steel sector to take their input for the proposed national steel policy.
EDB Chief Executive Officer Asad Elahi informed this to a delegation of the Pakistan Steel Melters Association and the Pakistan Re-rolling Mills Association during a meeting here the other day.
The steel bodies delegation included Ilyas Aziz, chairman, Steel Melters Association; Karim Aziz, Javed Iqbal of Karachi Steel Mills Association; Saqib Farid of Pak Steel; Shaban Khalid of Ittehad Steel; Daud Khan of Noaman Steel, and Farooq Saeed of SH Steel.
The EDB CEO informed the delegation that all stakeholders of the steel sector will be consulted to make the national steel policy result-oriented and help them deliver, besides increasing revenue for the government from this sector. The EDB CEO said the new national steel policy will also give top priority to energy conservation as energy shortage was a serious challenge for the government.
He said the new steel policy will also provide a number of incentives to the industry and other stakeholders of the steel sector. Asad Elahi assured the delegation that he would take up the issue of dealership of billet and its price difference in domestic and international market with the Steel Mills chairman to resolve this controversy once for all.
The delegation showed satisfaction over the government step of imposing 25 percent regulatory duty on import of steel bars and scrap. It said these steps would help the domestic industry increase its production and meet the requirement of the market.