ISLAMABAD: The Pakistan steel industry has reached at the verge of collapse due to the sitting government nepotism as it was only facilitating the blue-eyed factories owners.
The creditable sources have claimed that owing to this negative practice huge financial damage was paying to country national exchequer without any fear and justification.
It was apprehension that as many as ten thousand people could face jobs exit in forthcoming months owing to the negative attitude of government. However, on the other hand those who got benefit through SRO had given 5% relaxation on import.
It stated that regulatory duty impose on PCT head after finishing of all duties and no one give relaxation on it.
Souses said that association had received complaints from various members with regard to the misuse of undiscovered approval of serial 5of SRO 565.
Under the serial 5 of SRO 565 a 5 % import duty relief was available to cold rolled coil manufactures.
The sources said that SRO beneficiaries BB J Pipe Industry and Ajmer Tractor had no any machinery for the Cold Rolled Coils and they were issuing fake invoices.
However, the basic business of this company was pipes manufacturing. Sources said that these industries have given cut of 17.5 % as compare to the other industries.