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  3. Commerce Ministry to take up cement companies' penalty issue with CCI

Commerce Ministry to take up cement companies' penalty issue with CCI

19 Dec 2012 Evaluate

The issue of cement companies ‘getting penalized’ for idle excess capacity, will be taken up by the Commerce Ministry with the fair trade regulator Competition Commission of India (CCI). The regulators had in June this year slapped Rs 6,307 crore penalty on 11 cement makers. Industry body Cement Manufacturers Association (CMA) was also fined Rs 73 lakh.

Minister of State for Commerce and Industry S Jagathrakshakan said, ‘on the issue of getting penalized for idle excess capacity, your explanation that it is the result of a sluggish demand due to economic slowdown has merit. I will certainly raise this issue at appropriate levels and also with the CCI.’

The cement producers along with their association CMA have confronted CCI’s findings before the Competition Appellate Tribunal. The tribunal has started hearing and on December 6, the tribunal had asked the cement firms to raise their general issues on January 29, 2013, the next date of hearing.

The cement companies charged with cartelization were ACC, Ambuja Cements, Ultratech, Jaypee Cements, Grasim Cements, Ultratech Cements, Lafarge India, JK Cement, India Cements, Madras Cements, Century Cements and Binani Cements. Further, on July 30, CCI imposed a fine of Rs 397.51 crore on Shree Cements.

Referring to concern related to cheap imports, Jagathrakshakan said, the issue of zero duty on import of cement will be taken up with the Finance Ministry. By adding further he said, the issue of higher state levies would be addressed and demands related to cut in excise duty and extension of zero duty on Export Promotion Capital Goods Scheme (EPCG) to the sector, would also be considered.

At present, imports of products under the EPCG scheme attract over 3%. The industry also wants the government to rationalize excise duty rate from 12% to about 6-8%.

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