Launching a nationwide protest against the rising price of steel and cement, the Builders Association of India (BAI), the apex representative body of the construction and building industry in India, has demanded the setting up of independent regulatory authorities for the respective steel and cement industries, BAI representative Mohinder Rijhwani said on Tuesday, February 16.
The official said that “ill practices of cement and steel manufacturers” in increasing prices without any justification are “affecting the common man”, and hence the demand for regulatory authorities to oversee and ensure proper business practices by cement and steel companies.
“We are raising the demand for regulatory bodies at all forums and protesting against the cartelization and unnatural price hikes by cement and steel companies. Regulation of these industries is essential as their ill practices ultimately pinch the general public and hinder overall economic growth,” the BAI official said.