Pakistani cement ‘highest taxed worldwide’

Pakistani cement ‘highest taxed worldwide’
Published: 16 June 2008

Aizaz Mansoor Sheikh, Chairman, All Pakistan Cement Manufacturers Association, has said that the increase in taxes has made Pakistani cement highest taxed cement in the world. Excise duty has been increased from Rs 750 per ton to Rs 900 per ton, along with additional excise duty at one per cent, he said.

Increase of general sales tax from 15 per cent to 16 per cent has increased the menace of double taxation as general sales tax is charged on excise duty paid value, he said. "We urge the government to review its decision of increasing cement prices which will have detrimental effect on development of houses and infrastructure", he said.