Philippine rulers pushed to cut cement tariffs

Philippine rulers pushed to cut cement tariffs
30 December 2010

The Philippine Trade Department is again trying to get the Presidential Palace to eliminate tariffs on imported wheat and cement while Congress is in recess in a bid to lower product prices, a ranking official said.

Flour millers have had to pay a 3-5% levy on wheat starting Aug. 26 after Executive Order 863, which temporarily brought down this tariff to zero, lapsed. Cement tariffs likewise reverted to 3-5% after EO 862 expired.

Some local cement prices, meanwhile, have increased by 2.6% to P195 per 40-kilo bag (approx US$112/tonne) last week over the previous week, the department’s latest monitoring report showed.

Published under Cement News