Group Others
25pc duty on Iranian cement proposed

(Minews) - All Pakistan Cement Manufacturers Association (APCMA) has suggested 25 per cent customs duty, which is currently at 1pc, to discourage import of Iranian cement.

The association in a statement on Friday stated that the merchants did hide the volume of imported cement to evade duties. “Inaction against these misdeclarations and smuggling were not only slashing government’s revenues but also hurting the local industry,” it added.

It said around 34,000 tonnes of Iranian cement were imported in April and another 20,000 tonnes up to May 15, 2015 .

The local cement industry was subject to duties even on raw materials, spare parts and packaging materials resulting in higher production cost, it lamented.

Publish date : Saturday 23 May 2015 21:19
Story Code: 24665
Source : DAWN