Commerce Minister Kamal Nath has called a meeting of cement manufacturers on May 12 to check the steep price rise in the country. "The minister has called a meeting on May 12 on the issue," Ajay Dua, secretary, department of industrial policy and promotion, said today.Asked whether the government could ban exports, Dua said: "We will look into all aspects."The meeting comes shortly after Dua met the Cement Manufacturers Association and Builders Association of India on the issue. At the first meeting on May 2, the government had threatened to ban cement exports to improve domestic supply and check prices that have shot up by nearly 50% in the past 5-6 months in the northern and western states.Nath had earlier said that companies were "profiteering" and there was an "abnormal" increase in prices.The ministry had then given a week to 10 days time to manufacturers to take necessary action for bringing prices to realistic levels. However, none of the cement companies have reduced prices so far.Although cement is a decontrolled product, the government intervention comes after the Builders Association of India approached the ministry of commerce and industry to check the sharp rise in cement prices since November last year.
