Will cement prices remain stable despite rising import costs?

Question

Accepted Answer

Cement Prices to Remain Stable Despite Rising Import Costs

Industry players have agreed not to increase the price of cement, following discussions with the Domestic Trade and Consumer Affairs Minister. This decision comes despite grounds cited by industry players for a potential price hike due to the increased cost of imported materials, attributed to the weak ringgit.
Industry Agreement on Price Freeze

Following a meeting with industry representatives, cement industry players have committed to maintaining current prices. This agreement was reached despite the producers highlighting that the depreciation of the ringgit has led to higher expenses for imported raw materials essential for cement production.
Government Oversight on Controlled Items

The Minister reminded industry players that cement is a controlled item under government regulation. Any intention to increase cement prices must be discussed and formally approved by the ministry. This ensures that price adjustments are scrutinised and aligned with broader economic considerations.
Enforcement Under Control Of Supplies Act

The government has the authority to take action against any industry player who increases cement prices without official approval. Such actions would fall under the provisions of the Control Of Supplies Act, underscoring the seriousness with which the government views the regulation of essential commodities.

Reading history

Hide →

This history is cleared when the page is closed.

Will cement prices remain stable despite rising import costs?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends