TCL Guyana Inc is advising the public that it has increased the price of its Portland Pozzolan Cement by 8.7% from July 8.
In a press release, TCL said the price increase was implemented in a phased approach which had been previously indicated. The company’s last “price adjustment” was on May 1, 2013. The current adjustment is a consequence of increases in operating costs.
Over the last year the company has experienced increases in freight rates, spares, services and raw materials.
“Upward movement in foreign exchange rates has also had a significant negative impact. The company has been absorbing these rising costs, but now finds itself in the position where it cannot continue to do so.”
TCL recognises that cement is a major element of Guyana’s economic growth and as such the increase has been kept at a minimum. “We are pleased to state that our price still remains at the lower end of the tier when compared in a global context,” the company said.
TCL also plans to maintain its offer of a 20% discount for first time home owners under the government’s low-income earners housing initiative. The company has supported the programme since 2010.
