Karachi: The Association of Builders and Developers (ABAD) has said the government should ban the cement export and allow its import, so that the menace of the cement price hike could be controlled in the country.
Former chairman ABAD, Hafeez-ur-Rehman Butt said Tuesday the cement manufacturers were doing an unrealistic price hike without any reason and any justification. The price of 50 kg bag was around Rs 200-220 in February 2008 but now the prices are almost double and have reached to Rs 380-400, he mentioned.
He said although we have a surplus of cement in the local market but the manufacturers have created a fake shortage of cement in the local market by exporting it on large scales, besides almost every cement manufacturing company was exporting the cement.
The government increased GST from 15 percent to 16 percent and FED from Rs 750 to Rs 900, but the manufacturers have increased prices unrealistically and now they stood at Rs 380-400, he said. In the federal budget 2008-09, the government has imposed Rs 50 as federal excise duty on a square foot of the constructed houses, if the government did not reduce it then the housing industry would have to face more difficulties, he said. staff report.