Industry Minister Senator Aubyn Hill announced that complaints from the construction sector regarding cement shortages are declining as market conditions continue to stabilise. Speaking at a post-Cabinet media briefing on Wednesday, Senator Hill explained that the Cabinet analysed the compounding annual growth rate to project future cement demand and consequently approved additional importers to ensure a steady market supply and foster healthy competition.

While Buying House Company was previously granted approval in April to meet immediate demands following operational disruptions at Caribbean Cement Co, three or four other importers have now been approved to bring in varying quantities of cement. Senator Hill asserted that the supply and demand equilibrium is returning to normalcy, noting that the established cement company has increased its imports while the newly approved importers finalise their arrangements to meet local construction needs.

Advertisement