The regulatory duty on importing raw iron and steel has been extended until March 31, as announced by the Federal Board of Revenue (FBR).

Importers indicate that prices have surged by Rs11,000 per ton since January, attributed to this duty.

The FBR has set a 10% regulatory duty on raw iron and a 5% duty on steel products.

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Traders now report that the cost of raw iron and steel has climbed to Rs262,000 per ton.