Price rise rocks Bahrain

Price rise rocks Bahrain
Published: 03 January 2011

Bahrain cement companies are reportedly conspiring to increase prices by 30 per cent but are being confronted head-on by the government. In a bid to avert another building crisis, the Industry and Commerce Ministry is co-ordinating with other government departments to stop them. The minister Dr Hassan Fakhro, and senior officials have held urgent talks with representatives of cement companies. The ministry said it was stunned by local reports about a ’cartel’, which was utterly unacceptable.

Reports claimed that the cost of an ordinary 50kg bag of cement will be raised by 33 per cent to BD1.600 and that of resistant cement by 32pc to BD1.650. The price of bulk ordinary cement will surge by 30 per cent to BD30 per tonne, and bulk resistant cement by 32pc to BD31. Reliable sources said that increases were to prevent a price war between local factories and cement companies.