The Pakistan Steel Melters Association (PSMA) has expressed deep concern over the 2025-26 Budget and Finance Bill, warning that the proposed reduction of customs and regulatory duties on steel billets to 5pct threatens the survival of the domestic steel melting industry.
With many units already shut down, PSMA said the move would make imported billets significantly cheaper than locally produced ones, worsening the sector’s struggles.
“This decision will trigger a flood of imports, effectively shutting down the local industry and causing massive unemployment among both skilled and unskilled workers,” said PSMA Chairman Mian Ahmad Hassan.