Jun 29 10:56 AM
India's cement firms are seeking a cut on excise duty and a ban on imports in the upcoming
federal budget in an effort to reduce prices and protect manufacturers who have set up new
capacities, officials said.
Cement firms, to meet rising demand and an anticipated spurt in the government's infrastructure
spending, have increased capacity and prices, but now fear rising prices will dent demand for
local products and encourage imports.
"The industry is seeking an abatement on cement from the government. Cement is a bulk
commodity with a high distribution cost and abatement will help bring down prices in the
domestic market," H.M.Bangur, president of the Cement Manufacturer's Association told
Reuters.
Source:http://in.news.yahoo.com/137/20090629/744/tbs-budget-view-cement-firms-seek-excise.ht
ml
India's cement firms are seeking a cut on excise duty and a ban on imports in the upcoming
federal budget in an effort to reduce prices and protect manufacturers who have set up new
capacities, officials said.
Cement firms, to meet rising demand and an anticipated spurt in the government's infrastructure
spending, have increased capacity and prices, but now fear rising prices will dent demand for
local products and encourage imports.
"The industry is seeking an abatement on cement from the government. Cement is a bulk
commodity with a high distribution cost and abatement will help bring down prices in the
domestic market," H.M.Bangur, president of the Cement Manufacturer's Association told
Reuters.
Source:http://in.news.yahoo.com/137/20090629/744/tbs-budget-view-cement-firms-seek-excise.ht
ml
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