Smuggled steel

Steel imports in Pakistan through gross under-invoicing as modus operandi is no secret though the steelmakers have informed the government last week of regular imports of brand-new prime steel in large quantities from Iran and Afghanistan through Balochistan under the cover of scrap/re-rollable steel. This illegal practice has been going on unabated for quite some time. The importers cause massive revenue loss as a result of duty evasion. Smuggling of steel from neighbouring countries also continues without any check or control by government agencies.This malpractice however has gained a new dimension. The Senate Standing Committee on Commerce and Textile was recently informed that, allegedly, a cabinet member was facilitating smuggling of steel scrap from Iran. The government should not ignore the statement made by the steelmakers to the parliamentarians, and should take immediate notice of the situation to save its credibility.Hussain SiddiquiIslamabad

from The News International - Newspost https://ift.tt/2MKQLmV