‘Not possible to cut the cement bag price below Rs.335’, say company representatives.
July 22, 2014 - Hyderabad
Speaking to press on Tuesday in Hyderabad, many of the Cement Industry representatives said that it is not possible to bring down the price of cement by Rs.335 a bag.
Builders in Andhra Pradesh and Telangana State have stopped purchasing cement for the last three weeks alleging that the companies have been unilaterally hiking the price over fifty per cent. The company representatives said today that if they bring the price below Rs.335, the companies would be shut down due to losses. Joint MD of Sagar Cement Ltd., said that already, Bheema Cements and Panyam Cements have closed and another four companies are ready for sale. He said that the prices of cement have never been constant.
It may be recalled that the JAC of builders in both the States represented by Confederation of Real Estate Developers’’ Association of India (CREDAI) along with other association have decided to extend the cement purchase holiday by another week up to July 26.