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Trade and Industry Minister studies impact of TCL cement increase – 3rd May 2013

TCL-WCI_logoTrade and Industry Minister Irfaan Ali said the Administration is studying the full impact of the the TCL cement increase of 5% to plan its next move. That increase was announced a few days ago. The move, according to a statement from Ali could be to look at the possibility of sourcing cement from extra-regional sources, but that decision will only come if the Foreign Affairs Minister so advises.  The housing and construction sectors have been projected for growth in the coming months and Ali in a strongly worded statement, declared that the Government of Guyana will not allow that extra burden to hinder the thriving construction sector.

TCL announced that rising production costs have forced it to make the price adjustment. TCL  says that it remains committed to servicing the Guyana market which is important.

Currently TCL offers a 20% discount on the commodity to first time home owners and retailers are already tightening their belts for the increase.

Minister Ali said he believes that the market should be protected in times of shortage and there should be fairness and competitiveness in the pricing of commodities. TCL and the Guyana Guyana Government have had an uneasy relationship with a dispute over the breach of an agreement by Guyana  in 2006 reaching the CCJ.

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