Minister of Trade Sosten Gwengwe has attributed the scarcity of cement in the country to shortage of forex on the financial market.
Addressing the media in Lilongwe, Gwengwe warned cement traders against increasing prices beyond K7 500 which is recommended in the current prevailing economic situation.
The Minister’s remarks follow a meeting with cement manufacturing companies and importers that aimed to find solutions.
Gwengwe has warned that unscrupulous traders who are taking advantage of cement scarcity to raise prices will have their licenses revoked.
The Minister said cement producers such as Shayona Cement Limited, Cement Products Limited and Lafarge have not raised prices but traders are taking advantage of the situation.
Gwengwe said discussions with the Reserve Bank of Malawi have taken place to prioritise issuing forex to cement importers to deal with the challenge.
Recent weeks the local market has experienced rising prices of cement reaching up to about K10 000 per bag.
