Trade, Commerce, and Food Security Minister Nalin Fernando yesterday said he expects the price reduction of 50 kg bags of cement and concrete steel rods in the next few days.
He said the request was made to manufacturing companies after a discussion held at the ministry with all associations relating to the constriction field.
During the discussion, it was revealed that there is a decrease in the construction field due to the price increase of raw materials.
"Therefore, I held a discussion with the cement manufacturers and told them to reduce the price of a 50-kg bag of cement by at least between Rs. 300 and Rs. 500 as soon as possible.
The ministry hopes the price reduction will come into effect in the next two or three days," the Minister said.
He added that he had requested the manufacturers of concrete steel rods to take immediate action to reduce their prices too.
