ACC freezes cement prices for up to three months
Leading cement manufacturer ACC Cement on Thursday said it is freezing the rates for next 2-3 months, mirroring steps taken by steelmakers to complement government's efforts to fight inflation.
By PTI |
NEW DELHI: Leading cement manufacturer ACC Cement on Thursday said it is freezing the rates for next 2-3 months, mirroring steps taken by steelmakers to complement government's efforts to fight inflation.
"We have frozen the price for next two to three months," a senior company official of ACC Cement told the media.
The official said that the company has taken the decision in response to government concern about the cement price situation.
"We are the leading cement company of the country and therefore we have assured that we will hold the cement prices at existing rate," he said.
He added that the company would like to have duologue with government as "we are concerned about higher input costs which affect our margins".
Earlier in the day, Minister of State for Industry Ashwani Kumar said the government has talked to cement producers and they have assured they put forward their proposals in 2-3 days.
The cement manufacturers along with steel producers have been accused of raising prices through cartel.
Yesterday, major steel makers decided to cut prices of flat products by Rs 4,000 per tonne and those of rebars and structural steel by Rs 2,000 per tonne.
The decision to reduce prices by steelmakers and now ACC Cement is expected to soothe the government's concerns on inflation that is at 42-month high of 7.57 per cent.
"We have frozen the price for next two to three months," a senior company official of ACC Cement told the media.
The official said that the company has taken the decision in response to government concern about the cement price situation.
"We are the leading cement company of the country and therefore we have assured that we will hold the cement prices at existing rate," he said.
He added that the company would like to have duologue with government as "we are concerned about higher input costs which affect our margins".
Earlier in the day, Minister of State for Industry Ashwani Kumar said the government has talked to cement producers and they have assured they put forward their proposals in 2-3 days.
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The cement manufacturers along with steel producers have been accused of raising prices through cartel.
Yesterday, major steel makers decided to cut prices of flat products by Rs 4,000 per tonne and those of rebars and structural steel by Rs 2,000 per tonne.
The decision to reduce prices by steelmakers and now ACC Cement is expected to soothe the government's concerns on inflation that is at 42-month high of 7.57 per cent.
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