LAHORE: The price of a 50-kilogramme (kg) cement bag is expected to fall by Rs14.5, as the government has slashed Federal Excise Duty (FED) on cement from Rs2 per kg to Rs1.75 per kg.
According to reports, the 0.25 per kg reduction will amount to Rs12.5 for a 50kg cement bag, which will decrease the price by another Rs2 due to savings on General Sales Tax (GST), bringing the total savings to Rs14.5.
Previously, Rs100 FED was being charged on a 50kg cement bag.
“We are happy that the government has reduced the excise duty. But we are disappointed that it did not remove it altogether. There is no justification for excise duty on cement. We hope the government will remove it as soon as possible,” Azam Faruque, Chairman of the All Pakistan Cement Manufacturers Association (APCMA), remarked.