TCL GUYANA Inc. has announced that there will be a marginal adjustment, of 9.4 percent in the base price of cement, with effect January 1, 2012. The company, in a press release yesterday, said that the last such rise, largely driven by inflationary pressures, was last July.
“The company affirms that it will continue to offer its superior quality product at a very competitive price and also reiterates its ongoing commitment and support to the realisation of national development goals.
“First time home-owners, under the Government’s low income earners housing initiative, will also continue to enjoy the 20 percent discount offered by TCL Guyana Inc., in keeping with the company’s commitment to actively support Guyana’s construction sector.
“The proposed adjustment is exclusively premised on an increase in the price of bulk cement at source. The parent company, Trinidad Cement Limited, which supplies TCL Guyana Inc., will be instituting upward price movements for all its cement brands with effect from the same date.
“It became critical for TCL to do so as a result of escalating production/operational costs with which the company has been faced for some time now, directly related to the depreciation of foreign exchange and the increasing price of natural gas and electricity. Consequently, this has caused an inevitable succession of related price increases for the company’s products across all its markets, TGI and Guyana being no exception,” the release explained.