Government bans limestone sale by LafargeHolcim

The government has banned limestone selling in the open market by LafargeHolcim Bangladesh.

The Ministry of Industries imposed the ban in response to the complaints lodged by the local traders, according to a notice issued by the ministry recently.

On September 16, the ministry directed the relevant agencies, including Sylhet and Sunamganj district administrations to take steps in this regard.

On May 5, local limestone importers wrote to the ministry about the limestone sale in the market by the multinational company illegally, as the company is allowed to import limestone from India exclusively for use as a raw material in cement production.

The traders were worried that if Lafarge continues to sell limestone in the market, local importers will be affected as they import limestone paying the tax, much higher than Lafarge does.

In 2009, the company had taken a similar move, which was halted in the face of protests from the traders. In 2016, the company had sit with the local limestone importers to settle the issue, but to no avail.

On Tuesday, LafargeHolcim share gained more than 4 per cent to Tk 85.5 on the Dhaka Stock Exchange. 

In March this year, the traders staged a protest against the illegal sale of limestone in the open market by the cement maker.

They said the government faced a huge revenue loss due to the illegal open market sale of imported raw materials. And the illegal selling hit the livelihood of hundreds of local limestone traders and laborers, they claimed.