Tuesday, February 20, 2018

Chamber worries over cement hike

The Greater Tunapuna Chamber of Industry and Commerce said yesterday it was concerned that the recently announced price increase of 9.5 per cent per 42.5 kg of cement by Trinidad Cement Ltd will have a negative impact on both consumers and the construction industry.

TCL increased the price of its Premium Plus Cement on Wednesday, citing higher operating costs.

"While (TCL) officials have sought to explain the reason for this increase, the Chamber feels that this additional burden on citizens is unwarranted at this time," the Chamber said in a statement from its president, Taran Singh.

"The Chamber suggests that the time may be right for the authorities to consider opening up the market to other competitors as this would keep prices in check as well as ensure that the other benefits of a competitive environment are realised," the business group added.