The price of cement is likely to come down by 10-15 per cent following the Brunei government decision to re-allow importation of cement to the Sultanate.
Local contractors expressed their thanks to the His Majesty’s government for opening up the cement market.
"It is a good decision to open the market with the importation of 62.5 type of cement. It will bring down the price by at least 10 to 15 per cent. Now whatever Brunei pays annually, say $10m, for cement will now be lesser," said a contractor.
The Ministry of Industry and Primary Resources through the Department of Brunei Industrial Development Body on Tuesday announced that it would re-allow the importation of cement to Brunei.
This is part of an effort to stabilise the price of the commodity apart from ensuring continuous supply in the interest and for the development of the construction industry. The type of cement that is to be imported must be of high quality and comply with the Brunei standard, which is grade 62.5, the standard permitted by the government of His Majesty.
On February 1, the price of cement shot up to $180 per tonne. Mr. Yong said small contractors felt the pinch immediately as every $10 spent on building a house the difference was $2.50.