Minister of Trade Sosten Gwengwe has warned cement traders against increasing prices beyond K7500 per 50 kilogram bag, which is recommended price in the current prevailing economic environment.

The call was made after the ministry observed that cement prices are now beyond the recommended price, due to to scarcity of the cement, which the ministry blamed on the shortage of foreign exchange, which is making it difficult for traders to import the product.

Addressing journalists in Lilongwe, the minister warned that charging exorbitant prices on cement is an offence that is punishable under the Competition and Fair Trading Act. “I want to assure consumers that government will do everything possible to protect them from these unfair trading practices.”

Meanwhile cement manufacturers such as Shayona Cement Limited, Cement Products Limited and Lafarge Malawi have met with the Reserve Bank of Malawi to consider prioritising issuing of foreign exchange to cement importers to deal with the supply shortage.