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Steel prices unlikely to cool off despite source tax cut The cut in source tax in the proposed budget may not bring down the price of steel, meaning the cost of infrastructure and construction projects is unlikely to decline, manufacturers say. In the budget for the next fiscal year, Finance Minister AHM Mustafa Kamal has proposed to reduce the tax deducted at source on the supply of iron and iron products from 3 per cent to 2 per cent. Steel prices jumped 34 per cent in the last year as millers were compelled to hike the rates in the wake of spiralling scrap prices in the global market, making the construction of public projects and home building costlier.

United kingdomMustafa kamalTapan senguptaMohammed mohsinBangladesh steel manufacturers associationTrading corporation of bangladeshFinance ministerTrading corporationMetrocem steelஒன்றுபட்டது கிஂக்டம்மஸ்டேஃபா கமல்தபன் செங்குப்தாமுகமது மொஹசின்பங்களாதேஷ் எஃகு உற்பத்தியாளர்கள் சங்கம்வர்த்தக நிறுவனம் ஆஃப் பங்களாதேஷ்நிதி அமைச்சர்