Qatar to freeze cement, steel prices

Qatar to freeze cement, steel prices
Published: 11 June 2008

Qatar plans to impose a three-year freeze on cement and steel prices as well as extend a diesel subsidy for another year to offset the impact of inflation at a near-record 14.75 per cent, a newspaper reported on Tuesday.

"Contractors can now work without having any fears about any price rise in construction materials, namely steel, cement, sand..." Prime Minister Sheikh Hamad bin Jassim bin Jabr al-Thani said, according to a daily.

"Any future price rise of such materials in the global market will be borne by the state during the three-year freeze," he said, without giving details.