Kerala blames Centre for soaring cement prices

Kerala blames Centre for soaring cement prices
27 July 2007

The Kerala government has blamed the Union Government for soaring cement prices in the country and said the issue would be raise before the Centre soon.

The Centre’s inability to take effective steps against cartelisation of cement manufacturers was mainly responsible for steep rise in cement prices, state Finance Minister T M Thomas Isaac told the assembly.

Finance Minister P Chidambaram had in April admitted the presence of a cement cartel and its inability to deal with them without effective competition law in the country.

The Kerala government views have come close on heels of 14 cement manufacturers being issued notices by the country’s unfair trade practices watchdog MRTPC, following its investigative arm DGIR pointing at cartelisation in the sector and exorbitant hike in prices.

The companies against whom the MRTPC probe has been initiated include ACC, Binani Industries, Birla Corporation, Dalmia Cement, Grasim Industries, Gujarat Ambuja, J K Cement, Indian Cement Ltd, NCL Industries, OCL Industries, Saurastra Cement, Ultratech and Zuari Cement.
Published under Cement News