Cement price hiked

Friday, 3 June 2016 00:57 - - {{hitsCtrl.values.hits}}

By Chamodi Gunawardana

The Consumer Affairs Authority (CAA) has permitted several cement companies to increase prices per 50 kg bag by Rs. 60 following a collective request made by them.

Accordingly, cement bags of 50kg produced under Tokyo Cement, Holcim Lanka cement, UltraTech Cement, Lafarge Mahaweli Cement and Singha Cement have been increased from Rs.870 to Rs.930.

The CAA asserted this new price hike will be applied only for the cement bags which are packaged from 1 June ahead. It demands consumers to check the pack date before buying. Customers should not pay extra Rs.60 if the cement bag was packaged before 1 June.

The Authority further said it addressed the cement companies’ demands by considering the rise of production costs as a result of new value-added tax (VAT) and Port and Airport Development Levy (PAL).