Punjab cement industry to face 6% royalty on sales

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

Add Mettisglobal as a Trusted Source on Google

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	178,123.57 311.88M	1.62% 2837.78
ALLSHR	107,920.53 732.98M	1.30% 1383.71
KSE30	53,163.60 110.63M	1.61% 842.62
KMI30	250,746.13 98.70M	1.61% 3970.51
KMIALLSHR	69,267.39 434.80M	1.31% 894.74
BKTi	50,530.39 33.26M	1.63% 812.16
OGTi	35,363.61 8.05M	0.68% 237.34

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,345.00	65,105.00 63,920.00	-740.00 -1.14%
BRENT CRUDE	84.28	86.25 83.83	-0.67 -0.79%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-0.15 -0.14%
ROTTERDAM COAL MONTHLY	118.60	118.60 118.60	-0.95 -0.79%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	78.99	80.87 78.58	-0.61 -0.77%
SUGAR #11 WORLD	14.41	14.86 14.37	-0.44 -2.96%