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Tuesday, 2 August 2011

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‘Crackdown on errant cement traders’

Cooperatives and Internal Trade Minister Johnston Fernando yesterday directed the Consumer Affairs Authority to take stern action against the traders who sell cement beyond the maximum price stipulated by the government and those who hide cement stocks to create a shortage in the market.

The minister’s directive came in the wake of a slight shortfall in the supply of cement to the country with the closure of a major cement producing factory in Pakistan.

The Consumer Affairs Authority in a special Gazette Notification has stipulated the maximum price of 50Kg cement bag at Rs 750.

Minister Fernando said that this shortage will be rectified within a week.

The Building Material Corporation has also been directed to expedite the import of cement and distribute them through the corporation. A large consignment of cement imported by private traders is to reach the country next week.

Minister Johnston Fernando was of the view that cement can not be stored more than three months and hoarding of cement in contravention of the Consumer Affairs Act is illegal.

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