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Alleging that the cement manufacturing companies in the country colluded to create an artificial demand and hike the price, members of the Confederation of Real Estate Developers’ Associations of India (CREDAI), Andhra Pradesh, have threatened to go on a strike and boycott construction activity in the State and import cement.

 

‘Artificial scarcity’

 

“For the past 15 days, the cement companies have not been despatching cement creating artificial scarcity. Now, a bag of cement is being sold at around Rs. 350 against the normal price of Rs. 230. They formed a syndicate to create this [situation] and the State and Central governments need to intervene and take action,” said CREDAI, AP president A. Siva Reddy at a press conference here.

 

If the situation continued, in a couple of days we will meet the Chief Minister and present a representation before going on strike, he added. Building agreements had been made at the regular price and the 30 per cent hike with no reason would only result in losses to the builders, he said.

 

CREDAI, Vijayawada chapter president Ch. Sudhakar said they would import cement from countries like Sri Lanka.

 

“We have made inquiries with neighbouring States and found that the price per bag of imported cement will be at least Rs. 60 less than that of the hiked price here. The quality of imported cement is finer and we will start using it if the local companies do not end the drama,” he added.

 

They said the price hike was affecting both the government projects and the general public.

Source: The hindu