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Rediff.com  » Business » Govt warns cement firms over price hike

Govt warns cement firms over price hike

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May 12, 2006 13:51 IST
The government on Friday asked the cement companies to initiate voluntary steps by May 15 to check spiralling cement prices and warned of an action in case of non-compliance.

"The cement companies should tell us (the government) by Monday  what action they are taking to check the rising cement prices," commerce and industry minister Kamal Nath said on Friday.

Nath warned the government would take action against the cement companies if they do not initiate steps to curtail the price rise.

"The government can not and will not remain a silent spectator," he said during a meeting with cement manufactrers and builders association convened on the issue of price hike.

The minister had called the meeting after the builders complained of abnormal rise in cement prices during the past five-six months.

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