High building material prices alarm the government

The government has summoned the members of the executive to find out the appropriate means to face the skyrocketing prices of the building material.

This unprecedented hike threatens more than 1000 construction companies of bankruptcy which will engender nearly 2000 job losses as well as negative impact on the ongoing governmental projects

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In this respects the head of the government T, Abdelaziz Belkhadem convened to this extraordinary meeting various sectors including, trade, housing, finance, mines and energy, public works, water resources and the small and medium enterprises ministries. These sectors are directly concerned with the prices’ unrest in the sense that major projects planned by the government rely on these materials.

The ministry of trade has been assigned to present concrete proposals and shed light on the speculations witnessed in the Algerian market with the emergence the so called “cement crisis”.

For its part sources from the housing ministry declined any link with the expected proposals” it is not concerned since the market is free “said M Yahiaoui, a top manager at the trade ministry.

Several private contractors called on the government to intervene to curb the prices’ hike.