He regretted that "there seems to be no end to this malady. The MCA does exist in Pakistan, but it appears indifferent to formation of cartels," he said.
The Abad Chairman said that the escalation in prices of cement was unrealistic, and added the prices, which were averaging at Rs 160 per bag in 2002 were increased to Rs 220 in 2003 and now again in 2005, during a span of one month only, the prices of a bag of cement had risen to current day prices.
He said that the increase in prices of cement had come at a very crucial juncture when the housing sector was on the verge of take off.
He pointed out that the revival of housing industry alone would boost the economy, as it was labour intensive and provided jobs in millions to both skilled and unskilled labour.
Construction and housing industry, he said, was generating and re-rolling billions of rupees directly or indirectly in the national economy and provided millions of jobs in job market.
The Abad Chairman expressed the hope that the President of Pakistan would take necessary steps to bring the prices of cement down to save this industry from further deterioration.