Cement prices increase for non-filers with new taxes

Islamabad: The government has increased the withholding tax on cement to 2.5% for non-filers,as reported on July 31.

Read: Cement prices adjust upwards

As per details, the new tax regulations, which also include an increase in sales tax, have driven up the price of cement bags by PKR 200-250. The price of A-grade cement bags is currently PKR 1500, while other brands are priced between PKR 1400 and PKR 1470. Below is a detailed breakdown of current cement prices by brand:

• BestWay Cement: PKR 1,550 – PKR1,600
• Lucky Cement: PKR1,540 – PKR1,550
• DG Khan Cement: PKR1,510 – PKR1,550
• Fauji Cement: PKR1,450 – PKR1,560
• Kohat Cement: PKR1,450 – PKR1,525
• Askari Cement: PKR1,540 – PKR1,550
• Cherat Cement: PKR1,455 – PKR1,465
• Maple Leaf Cement: Rs1,500 – Rs1,510
• Power Cement: PKR1,450 – PKR1,460
• Pioneer Cement: PKR1,455 – PKR1,465

Read: PAK’s Cement Industry experiences 7.83% growth in May 2024, APCMA reports

In reaction to the tax increases, which include a rise in Federal Excise Duty from PKR 2 to PKR 4 per kg, cement dealers have launched an indefinite nationwide strike. The All Pakistan Cement Dealers Association is advocating for a presumptive tax regime to prevent business closures and job losses. Additionally, dealers are struggling to meet new regulatory demands, such as the requirement for Point of Sale (PoS) machines, which many cannot afford.