Andhra Pradesh law to dampen cement price rise

The state government is planning to issue an ordinance amending the Essential Commodities Act to rein in cement companies which are refusing to reduce prices.

This is being done since the attempts by the cabinet subcommittee headed by the Finance Minister, Mr K. Rosaiah, to persuade the cement companies to bring down prices did not work out.

The committee is expected to broach the idea of an ordinance with the Chief Minister, Dr Y.S. Rajasekhar Reddy, on Thursday.

“We have given enough time to the companies to reduce prices but many of them are turning a deaf ear to the public demand,” said the minister for Housing, Mr Botsa Satyanarayana. Sources said the state was also thinking of cancelling mining licenses extended to the cement companies if they remained stubborn. “That will happen only if all the other means fail,” said Mr Satyanarayana.

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Andhra Pradesh builders to go on Strike

More than 2,000 builders of the city are boycotting construction work from March 22 to force the government to bring down the prices of cement and steel.

A slowdown is imminent in the Rs 1,000-crore construction sector in the city because of the sharp increase in the prices of cement and steel.

The price of cement has gone up to Rs 230 a bag from Rs 160 and steel prices have touched Rs 50,000 a tonne from Rs 28,500 in the past six months.

Worried at the unrestrained rise of the price line, the Greater Hyderabad Builders Federation has decided not take up any construction work until the government comes out with a policy to control steel and cement prices.

The federation held meetings on Sunday and Monday and also urged steel and cement dealers to join hands since their business would also be affected by the probable slump.

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