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Summary Pak rupee value depreciation despite budgetary concessions will affect cement sectors profits.
The companies not exporting cement will take the brunt of it. The Investment report says the depreciation in rupees value would lower cement sector’s profits.Some companies located in northern parts of the country have recently raised cement price by Rs 7 to Rs 70 per 50kg bag.The federal excise duty on cement sector was cut down to Rs 500 per tonne in the budget, while the special excise duty was abolished.
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