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Cement Manufacturers want no more new factories |
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September 3, 2000
Dhaka (UNB) - Bangladesh Cement Manufacturers Association has suggested not to allow any more new cement factory in the country. "At present, cement production is more than the demand. This pushed the manufacturers to unhealthy competition and has been hampering the quality cement," said Ahmed Akbar Sobhan, the president of the association, at a press conference yesterday (Saturday). In a written statement, he said many cement industries would turn sick and their owners become bank loan defaulters, if new investments are allowed in this sector. Association treasurer KM Muhituddin read out the statement at the press conference at the Dhaka Club, where Association office bearers, including Azizur Rahman Selim and Humayun Kabir Khandaker were present. The statement said in the year 2002, country's 62 factories would produce 160.55 lakh metric tons of cement and another 20 lakh tons to be imported, but the market demand would remain only 55 lakh tons. "What’ll be the result if we fail to market our own cement?” The Association wondered about too much interest by foreign investors to invest in this sector, where local industries are enough to meet the market demand. They sought the intervention of the authorities to enable the country’s cement factories to survive. |