Lahore Chamber of Commerce and Industries' office-bearers have lauded the government's decision to allow duty-free import of cement and clinker along with freight subsidy of Rs 60 per bag and 30 per cent reduction in Railway fares.
In a statement issued on Saturday, the LCCI office-bearers including President Mian Shafqat Ali, Senior Vice President Abdul Basit and Vice President Aftab Ahmad Vohra said the decision would help boost economic activity in the country in general and construction activity in particular.
The LCCI office-bearers said the extraordinary rise in cement prices without corresponding increase in the prices of its input was disturbing the whole economic scenario of the country, adding the step would help bring down the cement prices to a reasonable level.
They said the government action was well in time as now the cement could be imported by road, rail or sea with zero-rated duties to make the commodity available all over the country.
The LCCI office-bearers also appreciated the Economic Co-ordination Committee decision to include cement in Price Control Act and withdrawal of duty drawback facility to discourage its export to Afghanistan.
They said that after inclusion of cement in the Price Control Act, the Monopoly Control Authority would be able to take action against them for increasing the prices.
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