File Photo: Ratheesh PP I Mathrubhumi
Kochi: The construction sector is facing severe setback again after a six-month interval. The price of cement soared from Rs 410 to Rs Rs 460 for a sack on Thursday. Within a day there was an increase of Rs 50.
The construction sector is already under stress due to Covid 19 and subsequent lockdown. The sudden increase in the cost of cement will again become a blow for the reviving construction industry.
The traders were informed over the price hike on Wednesday. Usually the information comes up via SMS. But this time the message was just passed verbally, said the traders.
The price of cement exceeded Rs 500 in June. Along with increasing the price, companies had withdrawn the discounts too. The traders protested over this and the companies were forced to reduce the price when the sales and demand of cement dropped.
The recent hike in price was done citing the rise in price of raw materials including coal. However, the traders protested over the sudden increase in cement price.
The state government has already convened a meeting with the representatives of cement companies. But the meeting turned out to be unsuccessful. The Minister of Industries had informed that the government is planning to increase the production at Malabar cements to meet 25 percent of the total need in the state which stands at 6 percent at present.
RELATED STORIES
.jpg?$p=4293dc1&q=0.8&f=16x11&w=104)
