FM warns of stringent measures against cement firms

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Hyderabad, Apr 21 (UNI) Making it clear that the Andhra Pradesh government will have no option but to put in place a stringent regulatory regime if cement companies failed to bring down the price, Finance Minister K Rosaiah today said it was also contemplating to import cement to stabilise the price in the market.

''There is no justification on the part of the companies to hike the price to Rs 230 per bag when the cost of production is only in the range of Rs 84 to Rs 100 and when the state, rich in limestone, is providing the required raw material to the companies,'' Mr Rosaiah said at a press conference here.

''The state government cannot remain a mute spectator,'' he said, adding the Chief Minister would take a decision on putting in place a regulatory regime, directing the companies to reduce the price and meet the state's demand before selling it in other states.

''The state government is in touch with the Centre and we will take steps to bring down the price,'' he said.


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