Chennai: To ‘curb the cartelisation and undue profiteering’ persisting in the cement manufacturing industry, Builders Association of India (BAI) has urged Prime Minister Narendra Modi to constitute Cement Regulatory Authority.
In a letter, Mu Moahan, president of Builders Association of India has stated that such regulatory authority will prevent manufactures from indulging in unethical trade practices, which have been causing irreparable damages to country’s economic growth and hurting the interest of the commonman and in turn, the construction industry.
The BAI has substantiated its demand with the rulings and observations of various statutory bodies, committees and submissions in institutions like Parliament and its statutory committees.
Cement Industry has been de-controlled in 1989 and de-licensed in 1991 under the policy of economic liberalisation. Decisions of installation of new plants are taken by the industry based on market demand.