Cement manufacturers have allegedly come together and formed a syndicate and increased the price of cement by 11.76 per cent unofficially. From Rs 340 they have hiked to Rs 380. This has put contractors, those in construction business in a spot of bother, said Coimbatore Contractors Welfare Association.
In a press release, the association chief claimed that over one crore twenty lakh business who livelihood is depended on construction business is badly affected. They have urged a rollback on price hike.The prices are more than before GST implementation. We are planning to file a complaint with National Anti-Profiteering Authority, New Delhi. When prices of diesel, coal are reducing in last three months, hike in cement prices worry us. They have hiked price by Rs 50 and the syndicate has been trying to stop supply from adjacent states.
In Tamilnadu only there is a steep hike in cement price. The Central and State governments should form a committee and take efforts to ensure the prices are brought down and fix as per the other states, the release added.