Islamabad: Minister for Industries and Production Hammad Azhar on Sunday took notice of the reported increase in cement price in the northern regions – including areas of Khyber Pakhtunkhwa (KP) and Punjab, according to news sources.
As per the reports, in last ten days, the price of cement bag weighing 50 kilogrammes (kg) has gone up to PKR 547 in Islamabad – with a price increase of PKR 40 to PKR 45. A cement price hike ranging between PKR 7 to PKR 26 has also been witnessed in other cities of Punjab.
Previously, the government had announced a reduction in the Federal Excise Duty (FED) on cement from Rs2 per kg to Rs1.5 per kilo during the budget. The decrease in taxes was estimated to reduce the prices of cement by PKR .25 per bag, which has not yet materialised.
Moreover, the Competition Commission of Pakistan (CCP) is probing the suspected collusion of the cement companies in this price hike. In Sindh and Balochistan, however, the cement prices have decreased.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
