Rock Hard Cement: Adjustment not enough to return to T&T

3426512

PETER CHRISTOPHER

[email protected]

Rock Hard Cement will not be the alternative option for consumers looking for a cheaper bag of cement in T&T next year.

Following Trinidad Cement Limited’s (TCL) decision to raise the price of cement by 15 per cent, the Ministry of Trade and Industry announced a revision of the Quota and Import Licensing Regime for Cement (building cement-grey and other hydraulic cements) for 2022 which set the importation quota at 150,000 tonnes, double the amount last year while also adjusting the rate of duty to 20 per cent on other hydraulic cements in 2022.

These adjustments, the ministry said, would allow for more extra-regional cement to enter T&T at a lower rate of duty and should ensure cement remains competitively priced.

However, Rock Hard, who left the Trinidad market in August, said it was not enough for them to return.

In an advertisement, Rock Hard said, “The Government of Trinidad recently announced that the rate of duty on other hydraulic cement will be 20% in 2022 instead of 50 per cent throughout 2021.”

In response we wish to advise all of our customers that, unfortunately this rate of duty is still 400 per cent higher than the maximum rate of duty paid on imports on Rock Hard Cement across the Caribbean.”

The company said the rate of duty does not support the re-establishment of the importation of Rock Hard Cement in Trinidad.

Rock Hard lost a legal challenge against the Trade Ministry’s importation quota in July, and is awaiting another ruling on the matter in the Caribbean Court of Justice.

However, the company used a statement to again criticise the policy of the T&T Government.

Rock Hard said, “Unfortunately the current policy to protect a monopoly empowers those that enjoy the protection afforded to act without the checks and balances that an open market with competition ensures. Ultimately the ones to suffer when monopolies are allowed to operate are the consumers.”

The company called on Trinidad and Tobago to return to the duty of five per cent.

TCL’s price increase took effect from Monday.