The Ministry of Industry, Trade and Tourism has warned that it will take punitive action against vendors taking advantage of cement shortage on the local market to charge consumers more than recommended price.
The country is experiencing scarcity of cement on the market which has made some vendors to hike the commodity’s retail price from between K6000 and K6500 to about K10000 per a 50kg bag.
In a statement signed by principal secretary for trade, Dr. Joseph Mkandawire, the Ministry regrets that following the current scarcity of cement, vendors and sellers of cement have taken advantage of the prevailing situation.
“The Ministry has held discussions with the cement industry on the matter as well as issued import permits for cement in order to fill the existing gap of cement supply,” explained Mkandawire in the statement.
He said Government is also casting the net wider on sources of supply to make sure that traditional cement sources are not overstretched.
“In addition, the Government has done its research on the prices of cement and concluded that the average retail market price of a 50 kg bag is between MK6,000.00 and MK6,500.00.
“However, some unscrupulous business persons have taken advantage of the situation by charging up to MK10,000.00 per 50kg bag of cement.”
Mkandawire said government will take punitive measures against anyone offering prices higher than the recommended ones in accordance with the provisions of the relevant Laws of Malawi.
He added: “Government wishes to inform the general public that it will continue monitoring the situation and ensure that the commodity is available on the market.”Follow and Subscribe Nyasa TV :