LAHORE, April 15: The Punjab Economic Forum and Lahore Chamber of Commerce and Industry have hailed the Economic Coordination Committee (ECC) decision to allow duty-free import of cement and described it as a big relief for the construction industry.

Forum president Mian Ajum Nisar and vice-presidents Mehboob Nasir Chaudhry, Jalil Ahmed Malik, Mian Muhammad Hanif and LCCI chief Mian Shafqat Ali, SVP Abdul Basit and VP Aftab Ahmed Vohra said that the decision would not only bring down the high prices to a reasonable level but also enable the construction industry to continue execution of its ongoing projects.

They were of the view that the ECC decision to bring cement under the purview of Price Control Act would prevent arbitrary increase in prices by manufacturers and the supply position would improve as a result of fall in exports to Afghanistan owing to withdrawal of duty-drawback facility.