Friday, 19 August 2022
Trending
Businesses

FBR revised minimum prices of steel as international prices rises

In the wake of increased prices of steel products in domestic and international markets, the Federal Board of Revenue (FBR) increased the minimum prices of steel products through amendments in SRO-985 issued on August 4, 2021.

As per details, the new prices of steel bars has been fixed at Rs153,000 per metric tonne, billets at Rs131,000 per MT, ingots/bala and ship plates at Rs126,000 per MT, and scrap at Rs119,000 per MT.

According to official sources, an upward revision was essential in the wake of the recent surge in local and international prices of steel products and to prevent a possible loss of revenue.

Earlier, the steel industry too had demanded a revision in the minimum prices stating that prices were on an increasing trend.

Moreover, the FBR has indicated that minimum prices would be fixed on a quarterly basis.

tax accounting services top tax consultants lahore pakistan
Ads:
Related posts
Businesses

Major Internet Service Providers Across Pakistan Faced Internet Down Today

Table of Contents Major Internet Service Providers Across Pakistan Faced Internet Down Today Major…
Read more
Businesses

Suzuki Cultus Car to Discontinue in Pakistan

Pak Suzuki Motor Company (PSMC) has decided to discontinue Cultus car. According to media reports…
Read more
Businesses

E-Filing System Implemented in Government Departments

The National Information Technology Board (NITB), a department of the Ministry of Information…
Read more
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

    Leave a Reply

    Your email address will not be published.