Government mulls regulating cement prices

The government is mulling regulating the price of cement temporarily to promote fairness and curb price fixing.

As of press time, cement cost LE880 per ton. 
On Wednesday, the Shura Council criticized the Consumer Protection Agency and urged it to take decisive action against cement factories accused of illegally hiking prices for profit.
CPA President Atef Jacob said he had found evidence that firms had engaged in price fixing schemes due to an overabundance of product in the market and less demand following the 2011 uprising.
“We will not allow such practices,” he said, which could led to regulations forcing producers to lower their prices. 
A recent rise in cement prices promoted the CPA to conduct an investigation into the matter. 
The agency filed a complaint late last month with the Protection of Competition and Prevention of Monopoly Practices Authority Wednesday.
Edited translation from Al-Masry Al-Youm

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