cement.jpgThe Construction Industry Federation of Zimbabwe (CIFOZ) has blasted unscrupulous business people who are taking advantage of the recent decline in cement production by unjustifiably increasing the price of the commodity from an average of US$12 to around US$20 per 50 kilogramme bag.

The comments by the construction industry representative body follows revelations that local dealers are taking advantage of shortages caused by a major plant breakdown at Lafarge by selling a 50kg bag at between US$16 and US$20 against the recommended average price is US$12,50 a bag.

CIFOZ president, Mr. Philip Chiyangwa bemoaned the unethical behaviour by some unscrupulous dealers and said the recent price hikes are not acceptable, hence all those involved should be reported to the police.

The retail price of cement remains at US$11.50 for masonary cement and US$12.25 for Portland cement.

Larfarge has also confirmed in a statement that the wholesale price of the commodity has not changed and remains at US$9.78 for masonary cement and US$10.78 for the Portland cement.

Panic has been crippling in on the local market following the price increases, a development which has threatened the recovery of the industry.

One of the country’s cement manufacturers, Larfarge had one of its mills under renovations following a breakdown and has since assured the market of normal production in the next few weeks.