BAI wants body to control cement price

BAI wants body to control cement price
Highlights

Builders Association of India BAI, Amaravati Centre demanded that the government intervene in the abnormal hike in cement price overnight In this regard the members of BAI organised a meet here on WednesdayAddressing the media, BAI Amaravati chapter president Atlluri Nagamelleswara Rao alleged that cement company syndicate was a big mafia which was creating hurdles to the builders and real es

Vijayawada: Builders Association of India (BAI), Amaravati Centre demanded that the government intervene in the abnormal hike in cement price overnight. In this regard the members of BAI organised a meet here on Wednesday.Addressing the media, BAI Amaravati chapter president Atlluri Nagamelleswara Rao alleged that cement company syndicate was a big mafia which was creating hurdles to the builders and real estate businessman.

He demanded that the government form a ‘Cement Regulatory Authority’ to have control over the price hike of cement.He said that on February 1, the cement companies announced ‘dispatch holiday’ for about 10 days and after that they sent shockwaves by increasing the cement price abnormally to the tune of Rs 100 a bag.He said that in the last four years the construction companies had gone through many hardships due to demonetisation, GST and cement price hike.

However, the construction business was slowly coming to normalcy. But, suddenly the cement bag price was increased from Rs 230 to Rs 330 hitting a hard blow to the construction and real estate business.He recalled that last year in March, the cement factory syndicate increased the price.

After taking the issue to the notice of the Central Financial Minister, they have reduced the price giving some relief and again in less than ten months they have increased the price abnormally.The members of BAI demanded that the government intervene and see roll back of prices.BAI general secretary T Vamsi Krishna, joint secretary P Nageswar, MB Phani Kumar president and others were present.

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