Builders demand regulatory authority for cement makers

Builders' Association of India today demanded the formation of regulatory authority for the cement industry as the price of construction materials have shot up by over 100 per cent in the last one week alone.
"...For example, in the last one week the cement price alone has gone up to Rs 330 per bag ...Formation of a regulatory authority for cement and steel prices is the only permanent solution...," Builders Association of India (BAI) Trustee and former National President R Radhakrishnan told reporters here.
He said despite a sluggish demand for cement, manufacturers have increased the price, forcing the builders to face various hardships.

"In Chennai alone, there has been an increase of Rs 300 on construction materials per square feet during the last one week. If this trend continues, our business will get crippled," he said.
He said the Association as a first step would meet the state government officials soon to explain about the situation. "We want the state government to invite all the cement manufacturers from Tamil Nadu and direct them to reduce the cement prices...," he said.
He claimed at a time when private cement manufacturers were retailing cement at a rate of Rs 330 per bag onwards, the state government owned Tamil Nadu Cement Corporation was selling it at Rs 220.

"When a government body can do it, why can't private manufacturers...," he asked.