PSM PUSHES GOVERNMENT FOR INTERVENTION OVER LOCAL IRON ORE SUPPLIES
July 1st, 2012
BY RAHIMULLAH YUSUFZAI, IN PESHAWAR
The Pakistan government is considering a demand from ailing state-owned Pakistan Steel Mills (PSM) to exempt local iron ore from a 16% sales tax, ban its export or impose an export duty on its sale abroad. PSM is finding it difficult to import iron ore and is operating far below its capacity while being increasingly dependent on Pakistani ore. However, this also is causing a problem as Pakistan mine-owners and suppliers prefer to export ore instead of supplying it to the PSM, because higher prices can be secured overseas. ...
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