Cement cos raise prices in south

Cement companies have jacked up prices by Rs 60-100 per bag(each bag is 50 kg) in the four southern states in the past week (TOI, June 23, 2014).

Such a hike all of a sudden without explaining the reason or justification is bound to affect seriously all those construction activities using cement. It is an essential commodity used by small and big players in the real estate business. The prices were already high compared to rates prevalent in the North India. There is a strong belief that these manufacturers had formed a cartel and imposed their price rises arbitrarily enjoying the oligopoly conditions in this sector.

We need to have a strong and effective mechanism at the government to check their moves and ensure auditing of their cost calculations for the last ten years justifying such extraordinary MRP for all these years. 

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