Cement prices also going up

A member of the minority bloc in the House of Representatives yesterday raised alarm over reports on the rising prices of cement nationwide, warning that this will adversely affect the economy.

Isabela Rep. Rodolfo Albano III said the government should move to set up safeguards against possible market profiteering and opportunism in the supply of cement in the country.

“The market conditions are so ripe for unscrupulous, greedy players and carpetbaggers in the cement industry to exploit,” Albano said.

“Government regulatory agencies must move swiftly and act now to avert any crisis in cement supply to ensure the smooth implementation of major and vital government infrastructure projects being rushed by the Aquino government especially housing and rehabilitation programs for the poor, including calamity victims,” he said.

The lawmaker urged the government to ensure reliable and ample cement supply to stabilize prices in the country.

He denounced what he called the obvious practice of cement companies in playing with market supply and demand.

He said market data showed that cement industry players implemented four price adjustments per year – where the first two price hikes were imposed at the start of year and the third during April.