Ce­ment and steel car­tels loot­ing masses

The Pak Banker - - NATIONAL -

Pres­i­dent So­ci­ety Watch Khalid Mehmood has said that mak­ers of ce­ment and steel rods are rob­bing masses by not pro­vid­ing re­lief of re­duced pro­duc­tion cost to masses. Re­duced price of coal and oil has brought down pro­duc­tion cost of ce­ment car­tel by 20 per­cent while the cost of mak­ing steel rods has come down by al­most Rs 10 thou­sand per tonne.

The ce­ment and steel millers are silently pass­ing ben­e­fit to dis­trib­u­tors, whole­sale buy­ers con­trac­tors work­ing on mega projects and builders but keep­ing masses de­prived, he said. Khalid Mehmood said that the de­part­ments sup­posed to check cor­rupt busi­ness prac­tices have pre­ferred to ig­nore this plun­der for ob­vi­ous rea­sons.

He said that de­spite get­ting dis­counts the de­vel­op­ers have in­creased prices of apart­ments by 20 to 30 per­cent in one year there­fore govern­ment should ask them to re­duce prices or take back re­lax­ations granted in the bud­get.

Many car­tels con­tinue to in­crease prices with­out any jus­ti­fi­ca­tion which amount to plun­der­ing masses while Com­pe­ti­tion Com­mis­sion of Pak­istan re­main silent spec­ta­tor.

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