Punjab cement industry to face 6% royalty on sales
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MG News | August 02, 2024 at 11:12 AM GMT+05:00
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.
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