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Cement makers asked not to increase prices

RECORDER REPORT

ISLAMABAD: The Ministry of Industries and Production has issued notices to cement manufacturers, asking them not to increase prices as long as it does not work out actual impact of increase in furnace oil on the production cost of cement, it was learnt.

The cement makers announced Rs 25 increase in the value of 50-kg bag of cement on Wednesday.

The ministry has explained that as soon as the impact was worked out the local cement industry would be allowed price hike.

The Economic Coordination Committee of the Cabinet (ECC) had formed a committee, soon after the increase in the prices of furnace oil, to work out its impact on the cement industry.

The committee is expected to firm up its report in the next few days that would be submitted to the ECC for consideration.