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Colombo, Jan 5 (Daily Mirror) - The maximum retail price of a 50-kg bag of cement has been increased by Rs. 150 with immediate effect, cement manufacturers said.
They said the price was increased due to the imposition of the value-added tax (VAT) on January 1.
Accordingly, the new retail price of a 50-kg bag of cement is Rs. 2,450.
Meanwhile, National Construction Workers Union (NCWU) secretary Supun Abeysekara told the Daily Mirror that though only a three percent VAT should be imposed on cement, the companies have imposed more than three percent.
According to them, the price of a product related to cement has increased by Rs. 10. Abeysekara also said that prices of construction materials will also be increased according to the VAT
