Business

LAHORE (Web Desk) – Cement prices are likely to go up by Rs. 35 per bag as the government has decided to increase Federal Excise Duty (FED) on the sector in the upcoming budget.

According to sources, the government is considering an increase in excise duty on various items in the upcoming budget. The current excise duty on a bag of cement is Rs. 21.

Market analysts have warned that the growth of construction sector will be affected if the cost goes up.

Pakistan is self-sufficient in the production of cement as over 30 million tonne production is recorded annually out of which around 70 lac tonne is exported.

Cement Manufacturers Association, on the other hand, have called for tax relief in the 2016-17 fiscal year.