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| Cement Pricing |
'please articulate concerns with the farmer who buys a bag of cement'! Chidambaram's interview
Chidambaram propounded the theory that increase in Cement Prices lead to inflation.
The Government run petrol companies increased the petrol prices 5 or 6 times in 6 months, in 2010. It does not lead to inflation !
| Who is promoting cartelisation ? | |
| The Finance Minister, after his needless and uncalled for meeting with Cement Manufacturers in March 2007 said in an interview with CNBC TV18 that ' some manufacturers are agreeable to a roll back on prices and some others are not. So I have asked them to come to an unanimous decision and then meet me' | |
| Accusations with contradictions ? | |
| In
the interview, he also makes clear that he was aware that some form of
Cartel exists in the Cement Industry before his March 2007 meeting and
a complaint is with the MRTPC.
His admission that there are 2 sets of opinions amongst the Cement Makers does not indicate the presence of a Cartel - at least openly. Having advised them to come together to fix a Price that suits him / the Governmental gimmick for public consumption, or, in simple terms, to form a Cartel to fix the prices [ if they can fix the prices today to suit Chidambaram / Government, you are also in effect giving them the power and the precedence, to fix the prices the way they want, at a later date - does not the precedence would make it an officially permitted cartel ? Lawyers should check ] |
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Chidambaram, by his action, as a Finance Minister, destabilised the economics of the Cement Industry and of Millions of investors, who may have invested in cement shares like me
Cement Companies incurred losses in 2010. The annual results of March 2011 of all major cement companies is poor. It is unlikely to turn better during the current financial year 2011-12. Government is not bothered.
Only one thing is constant. Even after raising the price of petrol, the Oil Companies always tell the Press about continuing Rs 5 under recovery.
Check with moneycontrol.com for the interview details
| Errors and Omissions exempted. If there be any unwanted oversights, mistake in content or suggestions for improvements, I will be thankful for your feedback | ||
| Personal website of R. Ranganathan M.Sc., [ MBA - IIMA] Main / original content: 2007: last minor modification, June 5, 2011 |