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Govt's help sought for cement cos to beat slowdown

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The Government should help the cement industry to come out of the challenging times posed by soaring operational cost and slowing demand, UltraTech Cement has said.Kumar Mangalam Birla, Chairman, UltraTech Cement, said at the company shareholders meeting on August 30 that the outlook for the cement industry remains challenging with the slow pace of housing and infrastructure putting a brake on growth.He said that the industry look up to the Government to support it and ensure growth through initiatives like reducing the tax burden and ensuring availability of linkage coal.Assuring that the company is well protected against the cartelisation charges levied by the Competition Commission of India, Birla said the company has not indulged in any sort of activity that could be termed as cartelisation.

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