Cement prices soar amid calls for importing from Turkey
Photo courtesy of aliimg
By SAMAH LABIB

CAIRO: Cement prices rose to 1,000 EGP per ton ($145) within 25 days on the domestic market, remarking an increase of 170 EGP, member of Building Materials Division Sherif Gouda said Monday.

None of the competent bodies interfered to control the ongoing rise of cement prices, resulting in higher demand on importing cement from Turkey, while cement manufacturers attribute the rise to lack of natural gas supplies which suspended many production lines, he said.

“Cement factories announce ongoing increases in prices without any justification, and the consumer bears this rise,” said Gouda, adding that in spite of complaints from cement high prices, traders and agents have no solution but raising the prices announced by manufacturers.

Gouda also urged the government to import Turkish cement and steel to overcome the product monopoly by domestic cement companies.

The Building Materials’ Division at Alexandria Chamber of Commerce submitted a complaint regarding cement prices to former Minister of Supply Mohamed Abu Shady, and promised to hold an urgent meeting to hold companies for accountability, said head of the division Mohamed Mokheimar.

“However, the minister neglected our requests, until the Cabinet reshuffle was announced,” added Mokheimar. The division intends to submit its complaint to the new Minister of Supply Khaled Hanafy for immediate intervention.

Originally published in Youm7.

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