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New Delhi, May 14

In response to the Government pressure, cement companies on Wednesday agreed to cut prices in the range of Rs 3-7.5 a 50-kg bag in certain States, to bring uniformity across the country. The rate cut would come into effect immediately, the Commerce and Industry Minister, Mr Kamal Nath, told newspersons after meeting representatives of the Cement Manufacturers’ Association (CMA). “Though cement prices have gone up only by 2.2 per cent in the last one year, cemen t companies have agreed to cut prices to help combat and address inflation,” Mr Nath said. Last week, the Finance Minster, Mr P. Chidambaram, had said the Government was in discussion with cement players to convince them for a price cut. After today’s meeting, the Cement Manufacturers’ Association President, Mr H.M. Bangur, said, “We will hold the reduced prices at least for three months or even more. But we are expecting positive support from the Government on our demands by the month end.” Cement companies are seeking adequate coal linkages and revision in excise abatement from the Government.

— Our Bureau

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Cement firms agree to cut prices

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