Govt to resolve dispute on cement price hike soon: Minister Bhandari

KATHMANDU, JANUARY 23: Minister for Industry, Commerce, and Supplies, Damodar Bhandari, has said that the ministry is studying the issues related to the recent hike in cement prices to resolve the dispute.

He did so while speaking at a meeting of the Public Accounts Committee of the House of Representatives held yesterday in the capital.

Contractors had filed complaints with the committee, claiming that cement prices had increased by up to 75% in recent months, significantly raising construction costs.

So, the committee organised discussions with with the Ministry of Industry, the Federation of Contractors' Association of Nepal, and the Nepal Cement Manufacturers' Association to address the issue.

Minister Bhandari acknowledged concerns about the price hike. He stated that the ministry had been in discussions with cement manufacturers, contractors, and consumer rights activists, and assured stakeholders that an appropriate decision would be made soon.

Cement manufacturers, however, argued that the price increase was due to factors such as load-shedding, rising coal and limestone prices, and higher transportation costs. They denied the claims of a 75% price hike, calling them inaccurate.

Following the meeting, the Public Accounts Committee directed the Ministry of Industry to conduct a detailed study on the cement price hike and submit a report within seven days.