Cement sector demanded tax credit
Several trials of track and trace systems in the cement industry have failed miserably. Photo: File
Karachi: The cement sector demanded tax credit from the government.
All Pakistan Cement Manufacturers Association has welcomed Prime Minister Shehbaz Sharif’s firm commitment to implementation of track and trace and investigation into negligence and mismanagement in its implementation.
According to All Pakistan Cement Manufacturers Association, despite full cooperation and numerous meetings and correspondence with FBR for the implementation of track and trace from the first day, this system could not be implemented in the cement industry and the failure to achieve the desired results. had to face
While several attempts of track and trace system in the cement industry failed miserably, a concerted and collective approach to the practical implementation of the track and trace system could have saved valuable foreign exchange on importation of machinery.
The cement industry is one of the top tax-paying sectors to the national exchequer and cement companies paid revenues of Rs 240 billion in the financial year 2022-23 alone.
Cement sector demanded tax credit