From January 1, customers of TCL Guyana Inc will be asked to pay an increase of 9.4 per cent in the price of cement, the company said.
According to TCL, the proposed price adjustment is to be blamed on the increase of bulk cement at source.
The parent company, Trinidad Cement Ltd, which supplies TCL Guyana Inc, will also be instituting upward price movements for all of its cement brands on January 1.
TCL Guyana Inc. has announced prices increases for cement starting next week.
The release noted that TCL had to increase its price owing to the escalating production and operational costs, which the company has been faced with for some time now.
It is directly related to the depreciation of foreign exchange and the increasing price of natural gas and electricity.
“Consequently, this has caused an inevitable succession of related price increases for the company’s products across all its markets, TGI and Guyana being no exception.”
The company said that it will continue to offer its superior quality product at a very competitive price and reiterated its ongoing commitment and support to the realization of national development goals.
The release further stated: “First time homeowners under the Government’s low income earners housing initiative will also continue to enjoy the 20 per cent discount offered by TCL Guyana Inc. in keeping with the company’s commitment to actively support Guyana’s construction sector.”
The last price change was initiated in July 2011 owing to inflationary pressures, the release stated.