Cement price hike may backfire: Sabah Umno, Malaysia

Cement price hike may backfire: Sabah Umno, Malaysia
08 January 2007

The Economic Bureau of Sabah Umno Youth described the increase in cement price as not in the interest of the people at large.

Its Chairman Haji Osman Ahmad said the people’s interest should be the main priority, and not just for profit margins.

Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal recently announced the hike in cement prices, prompting the Sabah Property and Housing Developer to say this opened the possibility to increase in property prices.

According to Osman, the announcement had prompted contractors to apply for increase in prices of housing units, thereby depriving Bumiputeras from owning their dream houses, particularly those in the low-income group.

If that is the case, the Government would not be able to resolve the problem of squatter colonies mushrooming in the urban areas, as the people could no longer afford buying housing units, he said.

Published under Cement News