NewsWhore
05-29-2006, 03:10 PM
Officials from the Ministry of Industry and Commerce were able to obtain a small reduction (RD$300) in the price of a quintal of reinforcement steel bars (rebars) on the local market. The price has been lowered to RD$1400 per quintal (1 qq = 100 pounds). Conversations will continue today on the issue of the price of cement. Last week, and the week before, saw prices for cement increase from RD$85 per bag of Portland cement to RD$160 per bag. The public outcry has forced officials from the Price Control office and the Ministry of Industry and Commerce to seek recourse from the industry leaders. However, the Association of Cement Producers was not as receptive to the idea of reducing prices as were the rebar manufacturers. The cement producers were arguing that competition had forced them to sell cement at below-cost prices, and they were just trying to get their operations back into the black. The cement producers promised to meet with the ministry officials this afternoon.
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Link To Original Article (http://www.dr1.com/index.html#5)