Cement prices shoot up in Punjab
The prices of cement has gone up between Rs 60 and Rs 75 per bag after the government hiked customs duty on cement from Pakistan by 200% on February 16, resulting in complete halt of cement arrival at Integrated Check Post (ICP) here.
The customs duty was hiked following the terrorist attack on a CRPF convoy at Pulwama in the Kashmir valley in February.
A cement bag which was available at nearly Rs 280 in the open market in February is now being sold at Rs 350. Similarly, non-trade cement, which was available between Rs 260 and Rs 270 per bag, is now being sold between Rs 335 and Rs 350 per bag.
Punjab roughly generates demand for nearly five lakh tonnes of cement per month. Out of this, around 20% is met by cement imported from Pakistan, which is ordinary portland cement (OPC).
With around 250 units of the inter-lock tile industry in the state, this industry is feeling the maximum heat due to increase in cement prices.