New Delhi: Paper manufacturers have decided to cut prices of their products to bolster sales volume following the government slashing CENVAT by 4%, Indian Paper Manufacturers Association (IPMA) said today.
“IPMA member mills have decided to pass on the full benefit of the excise duty reductions to customers. IPMA firmly believes that passing on the benefits will lead to an increase in demand of paper,” IPMA Secretary General R Narayan Moorthy said in a statement.
“We are passing the benefit to the consumers despite of the fact that there is no reprieve to the paper industry in terms of assured supply of quality raw materials at affordable cost and other critical inputs such as coals and power,” Moorthy said.
Paper consumption is poised for a big leap forward in sync with the economic growth and is estimated to touch 13.95 million tonnes by 2015-16.