The present Regulatory Duty (RD) of 5% and 10% on flat steel items is anticipated to be extended by the federal government for a further three months, until March 31, 2025. According to the Business Recorder, this action is intended to safeguard the regional steel sector.
All tariff-related proposals must first be reviewed at the Tariff Policy Center and then approved by the Tariff Policy Board (TPB) before being presented to the Cabinet or Parliament, according to the National Tariff Policy 2019–24.
Steel and flat iron were among the products subject to regulatory requirements under the Finance Act 2024, which had a sunset provision that was scheduled to end on December 31, 2024. Following discussions about the FY 2024–25 budget, the industry has repeatedly asked for an extension of these responsibilities.
