Realtors extend boycott of cement purchase in AP, Telangana

Last Updated: Sunday, July 20, 2014 - 00:47

Hyderabad: Stepping up their demand for withdrawing a "steep and unjustified hike" in cement prices, the Joint Action Committee (JAC) of builders in Telangana and Andhra Pradesh on Saturday decided to extend the boycott on buying cement by another week till July 26.
The Confederation of Real Estate Developers` Associations of India (CREDAI), along with all its chapters in Telangana and Andhra Pradesh and other associations, had formed a Joint Action Committee and stopped purchase of cement during July 5-12 in protest against alleged cartelisation by cement manufacturers.

The JAC, along with all its members, has unanimously decided to extend the cement purchasing holiday (stop buying cement), which has entered into the third week today, till July 26.

In wake of the boycott on buying cement, the Telangana government has initiated the discussions with JAC and Cement Manufacturers Association (CMA).

"The government has promised to re-look at the cement prices and has assured of a positive outcome. As the discussions between the Telangana government and CMA are still in progress, JAC has decided to extend the cement purchase holiday by a week (July 19-26)," a release issued by JAC said.

The JAC is also expecting a positive outcome of reduction in cement prices from the ongoing dialogue, which is essential to safeguard the interests of the individuals and construction industry, the release said.

The real estate community in southern states had already condemned the "unwarranted" rise in prices of cement by manufacturers last month.

PTI

First Published: Sunday, July 20, 2014 - 00:47

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