Cement manufacturers, who sent the notice on price increase to construction companies last Sunday, decided to reverse the decision on the 40% price hike.
Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail told the media that the decision was reached at a meeting on Tuesday, in which cement makers were reminded to duly discuss with the government any future price hike since cement is a price-controlled item.
“They (cement makers) stated several grounds to justify an increase in cement price due to costlier imported materials used in making the cement because of the weak ringgit.
