The Ministry of Industries and Production has given one week to cement manufacturers to rationalise the prices of their product or be ready to face action against their monopolistic attitude, sources in Industries Ministry told Business Recorder.
"We will be strictly monitoring cement prices and result of moratorium on exports, on daily basis, for a week, after which the government will take necessary action, " they said.
They said that the Central Board of Revenue (CBR) had been asked to closely watch the movement of cement through border with Afghanistan to assess if there was any violation of the moratorium on its export.
Sources said that All Pakistan Cement Manufacturers Association (APCMA) had been asked to increase the industry's production immediately to above 92 percent from present 85 percent, hoping that the ban on export and increase in production would help reduce the prices.
The ministry is of the view that cement manufacturers can easily enhance their production to more than 90 percent.
Apart from taking short-term measures, the ministry has prepared a summary, suggesting to the government to import cement, directly, for the public sector projects and in the earthquake-hit areas, sources said. They said that decision on this proposal would be taken by the Economic Co-ordination Committee (ECC) of the Cabinet in its meeting on April 12.
Asked if the Ministry was considering waiving central excise duty on cement, sources said that this issue related to CBR, and the question should be referred to it.