The president of the Contractors’ Association of T&T Glenn Mahabirsingh has come out in support of the Prime Minister’s condemnation of the unfair hike in cement prices and the businesses involved in such price gouging.
At Saturday’s media briefing at the Diplomatic Centre, PM Dr Keith Rowley came out against those business owners, who have been using the current restrictions to make a profit.
Rowley said “It is not right and simply taking advantage of a bad situation.”
Sold for $45 to $50 before the lockdown, a bag of cement now costs up to $150 at some hardware stores.
Mahabirsingh, in an interview with GML, said “We support the Prime Minister’s condemnation of price gouging. That cement would have been in inventory prior to the cement manufacturer closing. Those traders should not take advantage of the situation.”
He added “The Prime Minister said that the cement manufacturing company would get an exemption to restart in terms of exports and other commitments. So hopefully price gouging would be a thing of the past.”
However, Cement importer Rock Hard Cement this week signalled that it intends to increase the price of the commodity on the local market from July 1, 2021 “due to rising prices worldwide along with the volatility of shipping during the second half of the year.”