Islamabad: The Federal Board of Revenue (FBR) on Monday (November 15) announced an increase in the minimum prices of steel products through amendments in SRO-985 issued on August 4 for enhanced General Sales Tax (GST) collection, according to news sources.
According to sources, the decision of price increase came after the surge in the prices of steel products in international and domestic markets. The details of new prices are:
PKR 153,000 per metric tonne of steel bars
PKR 131,000 per metric tonne of billets
PKR 126,000 per metric tonne of ship plates and bala/ingots
Moreover, FBR also mentioned that the minimum prices will be fixed on a quarterly basis. For a long time, the steel industry demanded a revision in the minimum prices of steel products as the international prices were surging.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
