{
  "id": 10784248,
  "title": "Wirana urges Pakistan to give ship recycling scrap equal tax treatment",
  "url": "https://urgent.news/2026/09/29/wirana-urges-pakistan-to-give-ship-recycling-scrap-equal-tax-treatment",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T21:00:43.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/wirana-urges-pakistan-to-give-ship-recycling-scrap-equal-tax-treatment/"
  },
  "original_language": "en",
  "account": "Pakistan's ship recyclers are urging the government to treat scrap recovered from ship recycling on par with imported scrap in terms of tax treatment. This plea comes after weeks of efforts by local recyclers to address a tax mechanism that favors steel mills using imported scrap. The Federal Board of Revenue's notification SRO 1245(I)/2026 outlines different tax rates for mills using local versus imported scrap. Mills using over 70% imported scrap over the past year face a lower tax rate of PKR 5 per unit, compared to PKR 30 per unit for those using local scrap. This disparity in tax rates impacts the cash flow of steel mills and their decisions on suppliers. For ship recyclers, this situation complicates selling their material in a already challenging steel market. Wirana Shipping's CEO, Rakesh Khetan, emphasized that ship recyclers provide essential ferrous scrap and steel plate to Pakistan's steel industry and support numerous jobs. He urged the government to recognize the value of locally recovered scrap and provide equal tax treatment. As access to overseas scrap becomes less certain due to upcoming tighter EU waste export rules, Pakistan has a strong incentive to support its existing recycling industry.",
  "summary": "Wirana Shipping is calling on Pakistan to give scrap recovered from ship recycling the same tax treatment as imported scrap. The call follows several weeks of efforts by local recyclers to address a tax mechanism that encourages steel mills to buy from overseas. Under the Federal Board of Revenue’s notification SRO 1245(I)/2026, relevant steelmakers using ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}