Ministry of Trade to Dismantle Cement Cartel and Combat Price Manipulation

The Ministry of Trade and Industry has vowed to dismantle a cement cartel claimed to be formed by some cement importers in the country.

A senior government official from the Ministry of Trade and Industry, stated that the government is taking proactive measures to combat the continuous issue of price manipulation, which is allegedly affecting consumers.

The official stated that cement importers used to sell a bag of cement at wholesale costs ranging from Le120 to Le140, before the introduction of a new pricing system.

However, reports show that some importers are asking for between Le160 and Le165, raising concerns about inflated prices and fake scarcity.

The official said that the administration has been in talks with people from the three largest cement importers for four weeks now.

“There is a deliberate failure on their part to fully implement the terms of the concession agreements they signed with the government… But we are coming after them, as soon as this week”, He said.

Despite these attempts, the official stated that some importers are yet to cooperated fully. As a result, the government is looking into increasing harsh measures, such as suspending import permits and canceling concessions for non-compliant enterprises.

The Ministry is also now investigating all agreements for concessions signed with cement importers, claiming certain importers’ purposeful refusal to properly comply with the conditions of these agreements.

The Official also added that the government is prepared to move quickly, with measures likely to be enacted as early as this week.