KATHMANDU, April 4: The government has asked cement and iron rod manufacturers to mention the factory gate price (FGP) while selling their products in the local market amid suspicions of price manipulation by related firms.
Issuing a public notice on Wednesday, the Department of Commerce, Supplies, and Consumer Protection directed manufacturers of construction materials to list the FGP on their products. Likewise, the department has also asked dealers and retailers to clearly display the maximum retail price (MRP) on these products.
Maruti Cement, United Cement and Jagadamba Cement found selling...
The market regulator has taken action in response to growing complaints about price hikes, particularly in cement and iron rods. Manufacturers and traders have been accused of forming cartels, leading to abnormally high prices for these construction materials.
Over the past month, cement manufacturers have increased prices by around Rs 150 per sack, while the price of iron rods has risen from Rs 76 to Rs 90 per kg. According to construction entrepreneurs, these price hikes have adversely affected the sector, which is already struggling due to the economic slowdown.
Last week, the Department also directed manufacturers and importers of all types of goods to ensure proper labeling, including MRP, manufacturer names, batch numbers, and expiry dates. Additionally, firms have been asked to include standardization marks and informative symbols on products where applicable.