Punjab cement industry to face 6% royalty on sales

MG News | August 02, 2024 at 11:12 AM GMT+05:00

0:00

August 02, 2024 (MLN): Punjab cement factories are set to face a major setback as the government has imposed a royalty rate of 6% on the ex-factory sale price of Cement or Clinker.

Specifically, this will apply to mineral title holders with mining leases for limestone and argillaceous clay under large-scale mining for the purpose of cement manufacturing.

This heavy burden is expected to wipe out a major portion of the bottom line of these companies.

To further narrow the monetary impact, this will result in a massive increase of Rs100 per bag.

To note, the aforementioned royalty rate will take effect on July 01, 2024, and will be in addition to a royalty of up to Rs500 imposed on a wide range of minerals starting on the same date.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	184,395.28 660.95M	-1.83% -3436.80
ALLSHR	110,898.72 1,087.25M	-1.73% -1952.98
KSE30	56,383.64 164.24M	-2.01% -1156.33
KMI30	260,404.10 91.88M	-1.84% -4883.94
KMIALLSHR	71,277.25 675.08M	-1.61% -1168.42
BKTi	53,828.85 97.82M	-2.34% -1290.44
OGTi	37,670.83 26.91M	-2.51% -970.68

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	66,000.00	66,900.00 60,005.00	2205.00 3.46%
BRENT CRUDE	67.56	68.82 66.87	0.01 0.01%
RICHARDS BAY COAL MONTHLY	90.00	0.00 0.00	-4.50 -4.76%
ROTTERDAM COAL MONTHLY	101.30	101.30 101.30	0.80 0.80%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	63.30	64.58 62.31	0.01 0.02%
SUGAR #11 WORLD	14.17	14.30 14.16	-0.10 -0.70%