Pakistan cement exports rise to USD 750 million: Steel Guru

The News reported that Pakistan cement industry, despite being affected by the global economic crisis has managed to boost exports to USD 750 million in fiscal year 2008-09.

A senior official at the Ministry of Industries said that “Being an irregular sector if compared with textile, the cement industry increased exports to USD 750 million. Though the industry has been given relief of PKR 200 per ton in central excise duty, it is to be fully passed on to end-consumers. This means the price of a cement bag will fall by PKR 10 from July 1.”

Before the budget relief, the cement industry was paying PKR 900 as central excise duty which has been reduced to PKR 700 per tones. Despite a cut in the Public Sector Development Program to just PKR 219 billion owing to which domestic cement consumption has dropped sharply, the industry has performed well in foreign markets in these times of worldwide recession.

Mr Rehmat general chairman of All Pakistan Cement Manufacturers Association said that land transportation cost and port handling charges stand at USD 25 per tonnes and if the duty drawback facility is enhanced to PKR 120 per tonnes exports will easily increase to USD 1.5 billion.

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