Chilanga Cement Plc has increased the price of cement with immediate effect. Chilanga Cement managing director Ian Coulter yesterday said that the company had decided to increase the price of the commodity by six per cent as a result of the fuel increase. Coulter said the country has had a 14 per cent cumulative increase in the fuel prices in the past few weeks but that the company had only passed on six per cent. He said the increase in the price of fuel had also increased the cost of production for the company. The factory price has increased to K30,971 from K29,190 while the recommended retail price has increased to K33,900 from K32,000.
And Zambia Competition Commission (ZCC) executive director George Lipimile yesterday confirmed that the company had notified the commission on the increase, attributing it to the increase in fuel prices. National Council for Construction (NCC) executive director Sylvester Mashamba said yesterday that the increment was justified because there had been fuel price increases that had not been followed by subsequent increases in commodities. "These people are in business and they have no choice," he said. But Mashamba said if the price of fuel goes down, the suppliers and manufacturers of goods and services should equally be quick in reducing their prices. He said the issue of fuel price increases had not only affected Chilanga Cement but that it had affected all sectors of the economy.