Tuwairqi Steel Mills approaches NTC to impose 10 percent customs duty on DRI

Tuwairqi Steel Mills Limited has approached National Tariff Commission (NTC) for imposition of 10 percent customs duty on Direct Reduced Iron (DRI) to protect the local industry. An official of NTC said that application was filed by the Tuwariqi Steel Mills a week ago for imposition of 10 percent duty on the DRI. 

The applicant contended that DRI is a new product for Pakistani market and at the moment melters in Pakistan are totally reliant on re-meltable scrap, which is of inferior quality compared to DRI. The DRI produced by TSML fully meets International Standard Specifications and the mill has enough capacity to meet the entire domestic demand of iron easily. 

The applicant further contended that the production process employed by TSML for producing DRI made the most efficient use of energy. Natural Gas in production of DRI is used as feedstock. Therefore, natural gas should be provided to TSML at concessional rate. The DRI manufacturing industry is in infancy and need protection for certain period of time. 

The NTC has initiated an inquiry under NTC Act 1990 and solicited views, suggestions and proposals from all parties having interest in the business relating to or associated with the imports, manufacturing, marketing and use of DRI. The stakeholders have been asked to submit their views and suggestions within 15 days of publication of this public notice to the NTC Secretary. The public hearing on the issue is scheduled to be held on March 4, and all parties having an interest in the business relating to or associated with the imports, manufacturing, marketing of DRI have been asked to get themselves registered with NTC latest by February 28, for participation in the public hearing by providing their particulars. 

Copyright Business Recorder, 2013

Muhammad Ramzan Rafique
Muhammad Ramzan Rafique

I am from a small town Chichawatni, Sahiwal, Punjab , Pakistan, studied from University of Agriculture Faisalabad, on my mission to explore world I am in Denmark these days..

Articles: 4630

Leave a Reply

Your email address will not be published. Required fields are marked *