Minister of FINANCE Ravi Karunanayake, addressing a media briefing on Monday, March 23 stated that a maximum retail price will put in place for cement with effect from today.
Thereby the maximum retail price will be Rs.870.
The Minister noted that this value was arrived at following extensive discussions with cement manufacturing companies.
The current administration slashed the taxes on cement by 7.5 percent through the interim budget which was presented recently. However the minister noted that he had received complaints that this change had not reflected in the market.
Thereby a decision was taken to impose a maximum retail price. Minister Karunanayake also announced that several cement manufactures have agreed to provide cement at a special rate to customers who buy directly from them.
