The Pakistan government will continue to provide freight subsidy on the import of cement of those importers whose letters of credit (LCs) were opened before the government decision to withdraw the subsidy, a government official told Daily Times.
The ministry of industries, production and special initiatives has sent a letter to the Central Board of Revenue and Ministry of Railways that such importer would be provided with the freight subsidy of Rs 60 per bag. The decision of the cabinet’s Economic Coordination Committee (ECC) would affect the imports of those who already opened the LCs, the official said. He said that the government withdrawal of subsidy, which has been notified by the ministry of industries a few days back in light of ECC decision, did not have any negative impact on the prices of cement in the local market. The cement prices either remained stable or exhibited a decline in some cases. staff report.