Business Daily from THE HINDU group of publications
Friday, Mar 23, 2007
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Business Daily from THE HINDU group of publications Friday, Mar 23, 2007 ePaper |
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Cement Industry & Economy - Economy No cutting of prices, say cement makers Our Bureau
New Delhi March 22 Cement manufacturers on Thursday refused to cut prices even after a second meeting with Finance Minister Mr P. Chidambaram. However, there appear to be two opinions among the manufacturers. "I get the impression that there are two views in the industry. One is more sober view that we must help the Government control inflation. The other view seems to be more hawkish," Mr Chidambaram told reporters after the meeting. "What were the prices in December 2005, January 2006, June 2006 and December 2006? I told the industry that we have this information," the Minister said. The industry maintains that it is not in a position to reduce prices, which, it says, are driven by market conditions. This is the point that the industry representatives emphasised at today's meeting with the Finance Minister. The industry also highlighted some of its problems - the incidence of high levies on cement - at the meeting. The Centre's stand is that the cement companies are profiteering and the Government cannot remain idle when the prices have increased over the last one year, without any significant increase in input costs. Cement industry representatives also said that there was no question of the industry being divided on maintaining prices at current levels. On the contrary, the industry wants the Government to remove some curbs, particularly the recent ban on exports.
Related Stories: More Stories on : Cement | Economy
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