Cement sales down amid tax hikes: APCMA calls for policy review

Pakistan, September 9, 2024: The All Pakistan Cement Manufacturing Association (APCMA) has expressed concern about the decline in cement sales amid tax hikes. The latest tax policy is negatively impacting the cement sector. The association is pledging the authorities to review their tax policies.

Also Read: FBR struggles; retailers have yet to agree on tax collection strategy.

According to details, the tax policy has increased the price of cement and dropped demand. In August 2024, 3.366 million tons of sales were reported, less than in August 2023. Last year, it was 4.528 million tons.

Similarly, local sales have also seen a huge decline, by 27.54%, to 2.752 million tons. Exports have dropped by 16% to 613,857 tons from 730,755 tons. Overall, cement sales have declined by 17% over the first two months of the fiscal year. 82%. Domestic sales were down 20 % in 2005, totalling $450 million. 73%. Imports dropped by 0.85%, and exports were down by 1. 65%.

Compared with the North, mills in the North sold 2 at the regional level. In 2008, production reached 530 million tons, which was 22% less than the previous year. 20% increase from the previous year. The average number of tons of cotton sold by mills in the South can be concluded as follows: The total tons of cotton sold reached 835,245 while the mills of the South increased by 34. 54 %, down from what was prevalent in the previous year.

Also Read: PETD prepares for new 5+ marla property tax in Punjab

The Cement Association has called on the government to reconsider certain types of taxes to support the development of the ailing construction sector and avoid additional employee dismissals. Stay connected with RBS for more updates on cement sales amid tax hikes.