ISLAMABAD, May 18: Minister for Industries and Production Jahangir Khan Tareen on Thursday said that the government would not withdraw the freight subsidy on cement import until local prices stabilised at Rs285-90 per bag.

He was talking to representatives of All Pakistan Cement Manufacturers Association (APCMA) to review and discuss cement prices and the related issues.

An official announcement said that Mr Tareen also asked the APCMA to advertise their ex-factory price. “Such a step will mitigate the chance of black-marketing by the middlemen,” the minister added.

He told the APCMA delegation that the government did not want the domestic industry to suffer and if the cement prices were kept at affordable level, the government would consider all their genuine demands.

The cement manufacturers assured the minister that they would ensure the retail price did not exceed Rs285 to Rs290 per bag. They also agreed to advertise the ex-factory price in all the major newspapers.