India to import more cement from Pakistan
Fighting three-and-a-half-year high inflation of 7.57 per cent, government says it would import more cement from Pakistan, besides asking the domestic manufacturers to hold prices.business Updated: May 02, 2008 18:39 IST
Fighting three-and-a-half-year high inflation of 7.57 per cent, government on Friday said it would import more cement from Pakistan, besides asking the domestic manufacturers to hold prices.
"We are looking at more imports from Pakistan. Whatever we can we will import.Five million tons we can get it," Commerce and Industry Minister Kamal Nath told reporters.
Nath said he would soon meet the cement companies to discuss the rising prices of the building material.
"I propose to meet cement companies very shortly, by mid-may to discuss and counsel them not to have increase in prices and to keep consumer interest in mind," he said.
Nath said the cement prices have not increased as much as other items. "Cement prices have not gone up. They have gone up by 4.4 per cent over the whole year," he said.
However, high cement prices remain a matter of concern for the government. The industry explained to the government that prices have increased because of surging cost of raw material and transportation cost.
Asked to comment on inflation, Nath said the government has taken certain measures which would take 3-4 weeks to deliver results. "I am sure inflation will be contained," he said. Inflation will start moderating in the next 3-4 weeks, nath said.