Economy & Market
Nepalese cement firms told to review price hike
Nepalese cement factories had hiked prices of cement by Rs 20 to 25 per sack, prompting Industry Minister Nagendra Raj Joshi to summon the Cement Manufacturers Association for a price review discussion. The increase in prices was due to rising import cost of clinker and coal, according to the cement factories.
The price hikes come at a time when reconstruction works are ongoing and require large amounts of construction materials. "The minister urged the association to review the decision of price hikes at a time when the country is headed towards reconstruction," a statement issued by Joshi's secretariat reads, according to local news reports.
Dhurba Thapa, President of the association, said the manufacturers were "forced" to increase prices following the rise in cost of raw materials and import fees.