Cement Price Hike Adversely Affects Construction Sector

KOCHI:
The rise in cement prices is adversely affecting the construction sector and it is leading to severe crisis in this industry, says contractors and those in the construction sector.
The price of cement has been increased by Rs 50 in the last few days and this had resulted in the increase of construction cost in the private sector. Those in the construction sector are forced to stop works if the price of cement is not decreased.
Credai alleged that the cement companies, which are the promoters of sports events like IPL, have increased the prices without any reason. They also pointed out that the cement companies which are registering huge profit in financial results and selling shares at high prices are those who increased the prices. Credai urged the government to immediately interfere in this matter to overcome the crisis faced by construction industry.