LAHORE - The APCMA chairman Muhammad Ali Tabba has suggested that the present meager 1% custom duty on import of cement should be enhanced to 25% to discourage the imports.
Inaction against mis-declarations on imports and revenue loss through smuggling is not only affecting the government and its revenue generation efforts but also promoting corruption at clearing stage which goes rampant inflicting huge damage to the local industry as well, he said in a communique to the higher-ups in the government.
Considering the recent imposition of anti-dumping duty on Pakistani Cement by South Africa, he added, Pakistani government should also follow the same in order to stop the influx of Iranian cement in the country damaging its domestic industry and shaking the confidence of investors.
‘The direct revenue to national exchequer in the form of excise duty and sales tax can be increased by approximately Rs 1 billion per annum provided the government stops the import of 500,000 Tons of cement from Iran,’ reasoned the chairman APCMA.
‘It is the prime responsibility of the government to protect the local industry that has invested billions of rupees in the country and has substantial share in the revenue to national exchequer in form of duties, and taxes,’ he said.