Body allows release of Chinese cement for sale
ARIF RANA
ISLAMABAD (July 14 2006): The prices committee on Thursday came to the importers' rescue by allowing clearance of imported Chinese cement for sale in the local market. Authorities at the Karachi Port have withheld five shipments of cement imported from China having 100,000 to 125,000 tons load after declaring it substandard. Since than importers were struggling for clearance of their shipments to avoid loss in the form of demurrage and other additional port charges.

Sources said, on the prices committee recommendations the government is going issue directive to port authorities on Friday for clearance of Chinese cement to be sold in the local market.

Talking to Business Recorder, one participant of the meeting said: "The committee considered the issue as a whole and decided to allow release of imported Chinese cement for sale in the local market."

The prices committee was informed five consignments of Chinese cement were waiting clearance at the Karachi Port for the last few weeks and further delay in their clearance will not only cause loss to importers but also reduce its quality.

The government had allowed duty-free import of cement from any destination sometimes back when locally produced cement rates went up to Rs400 per 50kg bag at retail level, hitting the construction industry very badly.

The objective was to improve supply in the open market; cut-down cement prices; and simultaneously, pressurise domestic manufacturers not to exploit the market for undue profit.

The meeting also reviewed prices of sugar and pulses in the open market. It showed satisfaction that prices of these commodities were showing downward trend. However, it considered ways and means for further reduction in their prices for.

The meeting also took stock of cultivation of sugarcane crop over the past five years and average ratio of input and output, per acre cost and benefit to growers compared with other cash crops such as cotton, wheat, sunflower and basmati paddy.

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