Ministry scraps cement price hike

Ministry scraps cement price hike
Published: 31 May 2006

The UAE Ministry of Economy has overturned a decision by cement factories to increase prices by Dh10 ($2.72) per tonne from June 1. According to a Gulf News report, a top official said there should be no unified prices for cement, as this would cause instability in the local market and compromise consumer interests. He said the ministry’s move was in line with the Cabinet’s decision to prevent commercial groupings or alliances aimed at increasing prices of any given commodity.