KARACHI: The cement price in the country would go up by Rs34 on a 50-kilogram bag as the government has decided to impose new federal excise duty (FED) regime.
In the new budget, the government has proposed to replace the current regime with a fixed rate of Rs1 per kg.
All-Pakistan Cement Manufacturers Association (APCMA) spokesman has urged the government to review the decision and said that the hike in FED clashed with the industry’s demand for reduction in taxes to further boost domestic sales.
Besides, constantly falling exports are adding to the industry woes. Apart from the exports to India, which increased 33pc year-on-year, exports to Afghanistan fell 10.34pc in the first eleven months (July-May) of this fiscal year.
The government should provide incentives to the industry to win back the Afghan market, the spokesman added.
