Increase in the Price of Cement
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Increase in the Price of Cement |
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Since 1992, the Government of St. Lucia has remained steadfast in ensuring that the price of cement does not increase. However, with the recent spiraling of fuel prices on the world market and its impact on the cost of production of cement and other petroleum base products, the Government can no longer ignore requests by local suppliers for an increase in the retail price of cement.
This is particularly so, consequent upon the increase in the price of cement to local suppliers since July 01, 2004, as announced by suppliers in Trinidad & Tobago, Barbados and Columbia from where Saint Lucia imports Cement. According to the suppliers, the increase in the C.I.F. price of Cement is associated with high fuel prices, along with its impact on general production costs.
As a consequence, Government has approved an increase in the retail price of Cement. Therefore, effective midnight, Monday, July 12, 2004, the maximum retail price of Cement will be $14.40 per bag of 42.5 kg. or 94 lbs. This represents an increase of sixty (60) cents per bag on the current retail price of $13.80.
But even with this increase in the price of cement, St. Lucia currently has the second lowest price among its CARICOM partners, behind only St. Vincent and the Grenadines and Guyana.
The public is being reminded that Cement is a controlled item, like four of its CARICOM neighbours, and in accordance with the Distribution and Price of Goods Act No. 23 of 1967, no person shall in respect of any good the maximum price of which has been fixed under the provision of Section 3 of the Act, “sell or buy or agree to buy any such goods at a price greater than the maximum price.”
The competent authority in the Ministry of Commerce, Investment and Consumer Affairs will effect the necessary monitoring to ensure full compliance with the law. The full co-operation of the public is solicited.
Ministry of Commerce, Investment and Consumer Affairs July 12, 2004 |
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