Commenting on local press reports on the Cabinet's decision reducing customs charges on imported cement, the Minister of Finance Dr. Ibrahim bin Abdulaziz Alassaf said the Cabinet's decision states that the new customs tariff of 5 percent agreed upon with the rest of GCC member countries will go into effect starting today 9/4/1426 H. (corresponding to May 17, 2005) instead of the previous tariff amounting to 20 percent. But, keen to alleviate the sufferings of cement customers, particularly those engaged in private homes building, the Government of the Custodian of the Two Holy Mosques King Fahd bin Abdulaziz has decided to shoulder the new fees of 5 percent until 1/12/1426 H. (corresponding to the end of the Gregorian Year) to match with the GCC summit decision, the minister said, adding that, the cement will be cleared from customs without customs tariffs being paid until 1/12/1426 H. After that, a custom tariff of 5 percent will be levied on cement imports, he concluded.
