Cement may be recognized as a socially significant product

The Ministry of Economy and Commerce has initiated a discussion on a draft cabinet resolution to include cement in the list of socially significant goods. The corresponding amendment is proposed to be made to the 2023 resolution.

Cement is a basic building material, and the cost of housing, schools, hospitals, and other socially important facilities directly depends on its price.

However, cement is not included in the current list of socially significant goods, which deprives the state of tools to influence its market price.

According to the Ministry of Economy and Commerce, the lack of regulation has already led to an increase in the cost of construction work, reduced housing affordability, speculation, and price spikes in the cement market.

The draft provides for the possibility of temporary state regulation of cement prices. This will stabilize the market, strengthen control over pricing, and prevent unjustified price increases during periods of high demand.

If the resolution is adopted, the ministry expects a reduction in construction costs and increased housing affordability, as well as a reduction in inflationary pressure through control over a key resource. In addition, by increasing the predictability of costs in construction projects, the state will be able to plan public investments more accurately.

The draft resolution will be open for public discussion until June 13.