Monday June 2, 2008 MYT 6:35:29 PM

Govt to abolish cement ceiling price

KUALA LUMPUR: The Government is scraping the ceiling price for cement to boost the country’s building industry and this will come into effect on Thursday.

Prime Minister Datuk Seri Abdullah Ahmad Badawi said in a statement Monday that importers would only need to pay 10% import duty in cement. Importers in Sabah and Sarawak would be exempted from having to obtain import licences, he said.

He said the Government had received many complaints about the supply of cement due to the fixed price for cement. He added the global cement prices had also risen above the government-controlled price.

“This problem has caused negative impact on the construction industry and jeopardised the country’s development projects,” he said.