Pakistan Electric Fan Manufacturers Association (PEFMA) has again jacked up the rates of all types of fans owing to consistent hike in raw material prices, particularly metal goods and copper wire. The decision to enhance the prices was taken at an urgently called meeting of the PEFMA held under the chairmanship of its President Haji Muhammad Ilyas.
In the meeting decision was being taken to do away with the lifetime guarantee concept for the fans on the demand of its majority members. Following a marathon deliberation, the participants decided to increase the rate by 10 percent. The manufacturers had already jacked up 10 percent price in January.
Furqan A. Ayub a local fan manufacturer said that manufacturers could not afford to continue the policy of lifetime guarantee in the wake of continuous hike in input prices. Another manufacturer Haji Muhammad Afzal said that it had become a difficult task to fulfil the export orders.
PEFMA Chairman Haji Muhammad Ilyas said electrical steel sheet had registered an almost hundred percent surge in its prices in the global market. He said last year the steel sheet was available at 660 dollars per tonne while it was to be had at 1,200 dollars.
Similarly, the rates of enamelled copper wire had been raised by 50 percent as compared to the last season while the price of blade and other metal material had also been enhanced manifold, prompting manufacturers to raise the prices of the fans.
He said the industry was paying 20 percent sales tax on the purchase of electric sheet even from the domestic market. He demanded that the government should reduce the sales tax on the raw material from 20 percent to 15 percent to rid the industry out of crisis.
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