UltraTech Cement Lanka (Pvt) Ltd has welcomed the government initiative to reduce VAT and eliminate NBT. Its effect on the prices of construction material is expected to benefit the construction industry in Sri Lanka.
“As part of its commitment towards the growth of the Sri Lankan economy, the company, as a goodwill gesture, has passed on the benefits of the reduction in VAT and removal of NBT to its customers across all market segments in Sri Lanka with effect from December 1. This has resulted in a reduction in cement prices, thereby benefitting its customers,” the company said in a media release.
UltraTech Cement Lanka (Pvt) Ltd is a part of UltraTech Cement Ltd, the third largest cement company in the world (excluding China) with an over 117 MTPA production capacity. UltraTech Cement Lanka, the release said, is the preferred choice of engineers and project customers for delivering consistent quality.
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