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Malaysia’s cement price increase no more

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Please do not say you did not know about the cement price increase which was reported by all medias recently. For those who read, are you now worrying about buying a property with a much higher price in the near future because of the cement price increase here in Malaysia? Here’s that earlier article on manufacturers announcing the price hike. Cement prices up 40 and 50% Perhaps we can now heave a sigh of relief? The government has decided not to allow the price increase announced by the manufacturers earlier. Read on for the reasons why as well as explanation by our Domestic Trader and Consumer Affairs Minister Saifuddin Nasution.

Article in freemalaysiatoday.com . The announcement should be final. Domestic Trade and Consumer Affairs Minister Saifuddin Nasution said that there would not be any price increase for cement. He said the decision was made after a meeting with the stakeholders. ““I met them over the last two days. We heard their views and we gave ours.” He said that the 21 cement manufacturers were told that cement was the main material in government’s plan to construct 1 million affordable homes nationwide. If the price increase went ahead, it will affect these affordable housing projects. Earlier article here: Cement prices up, how will property prices be affected? Saifuddin said cement was a price-controlled item and any price increase must get permission from his ministry or else these manufacturers are committing an offence. He said the manufacturers have agreed not to raise prices and to also seek government approval before issuing such letters or circulars. Article in freemalaysiatoday.com

By the way, the minister did not say that cement prices will stay the same forever. He said, cement price increase as announced earlier will no longer be valid. He also said that manufacturers will have to get government approval before any price increase in the future. As for the cement manufacturers’ views, I could not find any in the mainstream media yet. Perhaps they may issue a statement in the near future for their side of the story as well. They were earlier saying that without this price increase, the business is no longer sustainable. Here’s that article. Regardless of which side you are supporting, always note that cement manufacturers, just like most companies will have to pay their employees higher salaries year after year. This is why prices will rise in the future, the question is just by how much. Happy following.

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Article written and edited by Charles. News article summarised by Dina Batrisyia.

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