CONCRETE SPITE IN CEMENT PRICE INCREASE

SPITEFULNESS from the Rowley Government is the reason local consumers are facing increasing cement prices.

As a monopoly, Trinidad Cement Ltd. (TCL) is jacking up its prices for the fourth time in two years.

In response, the Government has lifted the importation quota and is reviewing the 20 per cent common external tariff.

But two years ago, the Government frustrated importer Rock Hard Distributors Ltd. out of business in what was widely seen as an act of malice.

Import quantities were severely restricted and duties were increased, making it uncompetitive for Rock Hard to stay in the domestic market.

Before closing down, the company’s bosses pleaded with the Government to review its quota and duties.

The authorities refused to budge.

Rock Hard was forced to send home 68 workers and displace 112 who offloaded cement shipments each week.

Company officials predicted that the TCL’s monopoly would lead to higher retail costs.

TCL has steadily increased prices, sending up construction costs and making home improvement even more expensive.

The company said the increases were “unavoidable,” and blamed inflation.

One hardware dealer said consumers have been complaining about the higher price “but there is nothing we can do except pass on the additional costs.”

He noted that with limited spending money, consumers may reduce construction activities.

The monopoly in the cement industry is being replicated in other sectors, with consumers paying the price in each case.

The Fair Trading Commission has not intervened in any of the cases.

The cost of living has been rising each month in Trinidad and Tobago, while many workers face a virtual wage freeze.

TCL is majority-owned by Cemex, a Mexican multinational, with minority shares held by National Insurance Board, Unit Trust Corporation, and an employee stock ownership plan.

Last May, the company revealed an annual net income of $57.80 million, a decline of 69.64 per cent from the previous year.