A call has gone out for the Commerce and Industry Ministry to prevent a 30 per cent increase in cement price in Bahrain.
It followed a closed meeting held yesterday between Bahrain Chamber of Commerce and Industry (BCCI) chairman Dr Essam Fakhro and Commerce and Industry Minister Dr Hassan Fakhro.
BCCI acting chief executive officer Khalid Al Murbati said since the ministry had the power to intervene and prevent such an unreasonable increase, it should do so and help contractors.
’This increase is unjustified and we will never agree,’ he said.
’However, we want the ministry to take note of this and prevent the increase from happening.’
Al Murbati said that while the increase had been rejected by the BCCI, the future course of action would be decided later.
’We have held meetings among ourselves and discussed several options,’ he said.
Prices of cement were raised by 30 per cent collectively on New Year’s Day by Bahrain’s cement manufactures, who claimed their margins were not enough.
Earlier, Dr Fakhro met senior officials and held urgent talks with representatives of cement companies.
Sources claimed that the cost of an ordinary 50kg bag of cement would be raised by 33 per cent to BHD1.600 and that of resistant cement by 32 per cent to BHD1.650.
The price of bulk ordinary cement will surge by 30 per cent to BHD30/t, and bulk resistant cement by 32 per cent to BHD31. The sources said that increases were to prevent a price war between local factories and cement companies.
BCCI board member Khalid Amin said such a huge increase was unjustified.