KARACHI: The Chairman of Association of Builders and Developers (ABAD) Hanif Gohar has strongly condemned the imposition of federal excise duty (FED) on cement in recent budget for the Fiscal Year2016-17.
Talking to Customs Today, Hanif Gohar said that the federal government while imposition of FED on cement would certainly increase the cost of construction of houses, adding that the cement cartel would get benefit by the said move of federal government.
The chairman ABAD further said that the Federal Board of Revenue-FBR has already imposed regulatory duty (RD) on steel, adding that the imposition of FED on cement would further affect the construction industry.
Gohar requested the federal government to withdraw the said decision and call for the stakeholders to redress the said issue.
He said that the cement cartel gets benefit by the imposition of FED on cement adding that the ABAD has already raised its voice over the said sensitive issue.
On the occasion, the chairman ABAD thanked the federal government over the acceptance and included the recommendation presented by the ABAD in which it requested for imposition of “fixed tax” on property.
