Builders oppose CMA’s arbitrary hike in cement prices
At a recent meeting of the governing body of CREDAI Karnataka in Bangalore, some key issues were discussed, including the arbitrary increase in cement prices which the Cement Manufacturers Association (CMA) has announced.
With the CMA having hiked the cement price from Rs 255 to Rs 315 per bag, CREDAI Karnataka President R Nagaraj said that a petition will be taken by CREDAI-India to the Central Government of India, in submission of the request that the price of cement should be brought down within a week.
Nagaraj said that the increased cement prices persist for more than a week, “construction across all South-Indian states namely Tamil Nadu , Kerala, Andhra Pradesh and Karnataka will be forced to be halted” because CREDAI Karnataka will have to hike the prices of all apartments.
Opposing the increase in cement prices, CREDAI said that the change in economy may result in a marginal change to the price of cement trading; but also added alongside that the input costs to the cement manufacturers do not warrant the present level of price increase.
Meanwhile, along with CREDAI-India’s petition to the Central Government, the cement price hike will also be protested by four organizations – the Builder’s Association of India, Construction Federation of India, CREDAI, and National Highways Authority of India – through a presentation to the Competition Commission of India (CCI).
Source – The Times of India
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