Commerce Minister takes steps to stem cement shortage
Industry and Commerce Minister Karl Samuda has instructed that immediate steps be taken to avert a shortfall in the supply of cement in the local market.
A statement issued by the Ministry Tuesday night indicated that the projected demand for cement over the next two months might exceed supply from local production and imports.
Following a meeting with importers at his Ministry Tuesday, Mr. Samuda ordered that 5,000 tons of cement being held in inventory be immediately distributed to the market.
In addition, the Minister is to lead talks regarding the removal of some importation fees and the provision of concessions for cement importers.
He says this will facilitate the importation of an additional 60,000 tons of cement over the next eight weeks.
The Minister says he has not been able to get an assurance from Caribbean Cement that it can increase production above 75,000 tons to alleviate the shortfall.
Caribbean Cement has called a press conference for Wednesday morning to give an update on the current supply in the market.
The company was at the centre of controversy a year ago following the release of poor quality cement and a subsequent shortage of supply.
Industry and Commerce Minister Karl Samuda has instructed that immediate steps be taken to avert a shortfall in the supply of cement in the local market.
A statement issued by the Ministry Tuesday night indicated that the projected demand for cement over the next two months might exceed supply from local production and imports.
Following a meeting with importers at his Ministry Tuesday, Mr. Samuda ordered that 5,000 tons of cement being held in inventory be immediately distributed to the market.
In addition, the Minister is to lead talks regarding the removal of some importation fees and the provision of concessions for cement importers.
He says this will facilitate the importation of an additional 60,000 tons of cement over the next eight weeks.
The Minister says he has not been able to get an assurance from Caribbean Cement that it can increase production above 75,000 tons to alleviate the shortfall.
Caribbean Cement has called a press conference for Wednesday morning to give an update on the current supply in the market.
The company was at the centre of controversy a year ago following the release of poor quality cement and a subsequent shortage of supply.
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