In the wake of a severe shortage of cement the Ministry of Trade would receive its first stock of cement from Pakistan on Monday, Minister Johnston Fernando said yesterday.
“We are importing cement from Pakistan as an immediate solution to the problem,” he said. According to him the Ministry is taking short term and long term measures to help to ease the shortage of cement.
“The first consignment of cement will have 100,000 bags weighing 50kg each,” the Minister said. It will be introduced to the market as Co-op cement,” he added.
The Ministry will be selling a 50kg bag of masonry cement below the price ceiling of Rs. 700 and a 50 kg bag of Portland cement at Rs. 750, Mr.Fernando said.
“The prices will be competitive and the Ministry will try to sell them at the lowest prices,” he added.
Meanwhile, Mr. Fernando warned cement traders to release their stocks to the market without contributing to the artificial shortage in the country.
“We will be taking legal action against traders found with hidden stocks of cement,” he warned.
The Cooperative and Building Materials Corporation (CBMC) would be responsible for importing, distributing and selling the stock of cement from Pakistan, Minister Fernando said.
No comments:
Post a Comment