The maximum retail price of a bag of cement has been increased by more than Rs. 300, the National Construction Workers’ Union says.
Secretary of the union, Supun Abeysekara, convening a press conference on Saturday (Jan.06), emphasized that the cement price hike adversely affects the construction sector just as it began to experience some growth.
Abeysekara said it is unfair that the price of cement has gone up once again by Rs. 320 per bag, attributing the price hike to the increase of the value-added tax (VAT) to 18%, starting January 01.
Although a 3% VAT should be imposed on cement, the manufacturers have imposed a tax of more than three percent, he emphasized.
-adaderana
