#DESH Bill 2022

[ffsteel]

Steel Industry Contribution to Pakistan’s GDP

Steel stands out as one of the most essential materials across various sectors of the economy, including construction, transportation, manufacturing, and energy. Its pivotal role in the economic development of Pakistan cannot be overstated. The steel industry significantly contributes to the country's GDP and exerts a profound impact on diverse sectors. Over the past five years, this sector has demonstrated remarkable growth, with statistics underscoring its positive influence on the national exchequer. It also serves as a significant source of employment, income, and tax revenues. In this blog post, we will delve into how the steel industry in Pakistan is bolstering the nation's GDP and enriching the national exchequer.

According to the Pakistan Credit Rating Agency (PACRA), the steel industry holds a share of approximately 5.4% in the large-scale manufacturing (LSM) sector, which itself contributes around 9.5% to the GDP. With more than 100,000 workers employed across over 400 industrial units nationwide, the steel industry plays a crucial role in job creation. In 2019, the industry boasted a production capacity of 3.3 million tons, representing 0.18 percent of global production. Key players in the organized sector include FF Steel, Amreli, Agha, Mughal, Naveena, and Ittefaq Steels.

Moreover, the steel industry serves as a significant revenue source for the national exchequer through various taxes, royalties, and duties. PACRA reports that the steel sector contributes approximately 9.1% to the GDP, with an estimated year-on-year growth of 10.5% in FY22. Around 30% of the corporate tax is paid by the steel sector, collected from 30 public listed companies directly or indirectly associated with the industry. Additionally, the sector actively supported COVID-19 relief efforts, awareness campaigns, and vaccination drives in Pakistan, allocating roughly Rs 22,000 crore to corporate social responsibility (CSR) projects in FY 2021.

Expectations for the steel industry's continued growth remain high, driven by increasing demand for steel products both domestically and internationally. The government has also implemented several initiatives to bolster the sector, including corporate tax rate reductions, incentives for domestic production, and the introduction of the Development of Enterprise and Service Hubs (DESH) Bill aimed at revamping existing Special Economic Zones.

In conclusion, as sturdy as the steel it produces, Pakistan's steel industry stands tall as a cornerstone of economic prosperity. With its foundations deeply rooted in construction, transportation, manufacturing, and energy, this industry forges a path of growth, bolstering the nation's GDP and enriching the national exchequer. From towering skyscrapers to robust infrastructure, steel shapes the landscape of progress. As we look ahead, the future gleams bright with promise, as the steel industry continues to forge ahead, driving innovation, prosperity, and a stronger, more resilient Pakistan.

(1) STEEL SECTOR - PACRA. https://www.pacra.com/sector_research/Steel%20Sector%20Post%20Review%20Update_1601130113.pdf.

(2) LSM - Pakistan Steel Industry Outlook - PIDE - Pakistan's premier .... https://pide.org.pk/research/lsm-pakistan-steel-industry-outlook/.

(3) undefined. https://www.pacra.com/sector_research/PACRA%20Research%20-%20Steel%20-%20Sep.

(4) Pakistan - GDP distribution across economic sectors 2022 - Statista. https://www.statista.com/statistics/383256/pakistan-gdp-distribution-across-economic-sectors/.

(5) mwpbnp.pk. https://bing.com/search?q=Pakistan+steel+industry+GDP+contribution.

(6) mwpbnp.pk. https://mwpbnp.pk/blog6.html.

(7) Sector Study - PACRA. https://www.pacra.com/sector_research/PACRA%20Research%20-%20Steel%20-%20Sep'21_1630576235.pdf.

(8) Sector Study - PACRA. https://www.pacra.com/sector_research/PACRA%20Research%20-%20Steel%20-%20Sep'22_1662124643.pdf.

[yhwhrulz]

Worthy Brief - December 9, 2022

Here's your renewal notice!

Psalm 51:10 Create in me a clean heart, O God; and renew a right spirit within me.

Junk mail -- those annoying letters that fill your mail box. Along with the junk comes the delightful bills, and renewal notices. Of course the junk, we can just throw away, the bills, unfortunately can't be ignored, but the renewal notices, those we're thankful to see. Without them, we'd likely forget that we need to renew our licenses, our credit cards, membership cards, whatever else. Without those renewal notices, we might go to the ATM one day and not be able to get the cash we need because our card is expired -- oops! We might be asked to show our identification and the authorities might say, "Sorry Charlie, this license is not valid - you didn't renew it!"

Sadly though, the most important things in life that need renewing, do not come with renewal notices. We will never open a piece of mail and see a notice to renew our love for our spouses, our children or our friends. But if we don't continually renew our love for them, it will eventually grow cold. We'll also never receive the most important renewal notice -- to remind us to renew our relationship with God. Our relationship with God is the most important relationship we can have. It must be renewed daily!

In Hebrew, the word "le-cha-desh" means to renew. Here you go. Here is your renewal notice. Renew your love for the ones you love today. Renew your love for the Lord. Renew your love for the things of God and for his calling upon your lives.

We all need a little renewing today. Let's ask the Lord to create in us a clean heart and renew a right spirit within us.

Your family in the Lord with much agape love,

George, Baht Rivka, Obadiah and Elianna (Going to Christian College in Dallas, Texas) Ormond Beach, Florida

Join us on an epic, life changing journey through Israel, - https://worthynews.us12.list-manage.com/track/click?u=b94ae97bb66e693a4850359ec&id=b3574ce871&e=3d3c649f0e through the eyes of those who are well acquainted with the culture, the people and the Land. This is not your average Israel tour— bring your family, bring your friends, and experience the REAL ISRAEL with George and Baht Rivka as your personal hosts.