MCA notes cement price hike

MCA notes cement price hike
11 March 2004

Islamabad: The Monopoly Control Authority (MCA) has decided to conduct a preliminary investigation into reported hike in the prices of cement by the cement manufacturers.  According to an official source the government has taken notice of the reported surge in the price of cement through cartels by the cement manufactures.
All Pakistan Cement Manufacturers Association (APCMA) raised the cement price at various places by creating artificial shortage in the market. 

According to reliable sources cement producing units allegedly suspended their production to create shortage of the cement.
A total number of 21 cement units are operating in the country of which 14 are in Punjab while four in Sindh and three in NWFP.  It is stated that all cement-manufacturing units are producing 50 per cent less than their production capacity. The government is also formulating a law to ensure no cartelisation and protect the interests of the consumers, the sources added.   The proposed law would be investment friendly to encourage investment and create a market competition atmosphere in the country, he added.

Published under Cement News