Karachi: The cement sector is urging the government for tax credits.
The All Pakistan Cement Manufacturers Association has expressed support for Prime Minister Shehbaz Sharif’s strong commitment to implementing track and trace measures and investigating any negligence or mismanagement in its execution.
Despite extensive cooperation and numerous engagements with the Federal Board of Revenue (FBR) since the outset, the cement industry has faced challenges in implementing the track and trace system, resulting in failure to achieve desired outcomes. Multiple attempts to implement this system in the cement industry have been unsuccessful. A unified and concerted effort towards its practical implementation could have prevented the need for costly machinery imports, preserving valuable foreign exchange.
As one of the leading contributors to the national exchequer, the cement industry contributed revenues of Rs 240 billion in the fiscal year 2022-23 alone.