The maximum retail price of a 50kg bag of cement has been increased in Sri Lanka by LKR150 (US$0.466) with immediate effect, cement manufacturers said.
They said the price was increased due to the imposition of the value-added tax on 1 January. Accordingly, the new retail price of a 50kg bag of cement is LKR2450 (US$7.62).
Meanwhile, National Construction Workers Union (NCWU) secretary, Supun Abeysekara, told the local Daily Mirror that though only a three per cent VAT should be imposed on cement, cement producers have imposed more. According to them, the price of a product related to cement has increased by LKR10. Abeysekara also said that prices of construction materials will also be increased according to the VAT.
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