^

Purisima threatens another P5 cut in cement tariff

- Marianne V. Go () - January 17, 2004 - 12:00am
Noting a continued rise in cement prices, Trade and Industry Secretary Cesar V. Purisima threatened yesterday a further P5 reduction in the safeguard tariff on imported cement to help bring down domestic prices.

Based on a monitoring of local cement, the Department of Trade and Industry (DTI) noted that Portland cement in the National Capital Region as of Jan. 12 is retailing at P125 per bag, up P5 from December 2003’s P120 per bag.

In Cebu, the prevailing price as of Jan. 9 is P134 per bag, up P7 from December’s price of P127 per bag.

In Cagayan de Oro, the DTI survey showed, the retail price of cement is P135 per bag as of Jan. 9, up P8 from P127 per bag in December.

Purisima expressed concern about the rise in cement prices especially since the dry season is approaching and construction activity is expected to pick up.

"We are seriously bothered with this development as increases in the price of cement will definitely affect the completion of various ongoing programs of government in housing and other infrastructure related projects," Purisima said.

Purisima’s threat of a further P5 reduction would be on top of the earlier P5 reduction approved by former Trade and Industry Secretary Manuel Roxas II who had also noted the rise in cement prices.

BAG CEMENT DEPARTMENT OF TRADE AND INDUSTRY IN CAGAYAN IN CEBU JAN NATIONAL CAPITAL REGION ORO PURISIMA TRADE AND INDUSTRY SECRETARY CESAR V TRADE AND INDUSTRY SECRETARY MANUEL ROXAS
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with