Economy

PM urged to curb cement cartelisation

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The Builders Association of India (BAI) has urged Prime Minister Narendra Modi to represent a cement regulatory authority for the sector to curb cartelisation and ‘undue profiteering’ by producers.

In a letter to the PM, BAI president Mu. Moahan asserted such an authority would stop producers from indulging in unethical commerce practices which have been inflicting irreparable injury to the nation’s financial development and hurting the pursuits of the development trade.

BAI has substantiated its demand with the rulings and observations of varied statutory our bodies like Competition Commission of India, Monopolies of Restrictive Trade Practices Commission (MRTPC), submissions in Parliament and its statutory committees.

Citing all these, the affiliation has urged the Prime Minister to represent a cement regulatory authority on the strains of those constituted for the telecom, actual property, insurance coverage and aviation sectors.

“Infrastructure and housing sectors are enablers of economic growth and cement is a basic input,” Mr. Mohan mentioned. “The cement industry, however, indulges in cartelisation for profiteering,” he alleged. The cement trade was de-controlled in 1989 and de-licensed in 1991 underneath the financial liberalisation coverage. Decisions of set up of latest vegetation are taken by the trade primarily based on market demand.



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