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Appoint regulatory authority to rein in cement manufacturers - BAI

Infra News - Published on Mon, 18 Feb 2019

Image Source: Realty Plus Magazine
Indian Express reported that the Amaravati Centre of Builders’ Association of India (BAI) has appealed to the State Government to appoint a ‘Cement Regulatory Authority’ in Andhra Pradesh to rein in cement manufacturers from cartel on the lines of authorities like Security Exchange Board of India, Telcom Regulatory Authority if India, Insurance Regulatory & Development Authority of India and Real Estate Regulatory Authority.

Addressing a press conference, BAI Amaravati Centre chairperson Mr A Nagamalleswara Rao said that the construction sector was reeling under crisis with companies increasing the prices of cement unilaterally. Earlier this month, cement manufacturers had increased the price by `100 per bag and now it has reached `325 per bag. The sudden revision of prices act as hurdles in the path of completing projects on time for the construction sector, he said. At present, the housing/real estate industry consumes around 65 per cent of the cement produced, followed by the infrastructure sector, which consumes 18 per cent to 20 per cent of the cement produced. The rest of it is consumed by other industry and retail consumers.

BAI Secretary Mr Phani Kumar said that as per the data of 2011 Census, only 31 per cent of the total population in India dwells in urban areas. In most of the developed countries, this percentage ranges from 60 to 80 per cent. He underlined the role of the construction sector in development of the country and opined that cement price revision should be done timely and in a proper manner.

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Posted By : Rabi Wangkhem on Mon, 18 Feb 2019
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