BUSINESS leaders in Cebu urged the government to speed up the evaluation of quarry operations in Cebu to avoid business disruptions and a potential hike in cement prices.
Although there is an average of three to four months holding inventory of cement supply observed by retailers and producers, business leaders here want to avoid panic buying and hoarding of cement, which will eventually lead to a price hike.
“Without raw materials, supply of cement will be affected. While we welcome the investigation, the question now is how long will the suspension last?” said Steven Yu, vice president of Mandaue Chamber of Commerce and Industry (MCCI).
“The suspension can’t be hanging. Otherwise, it will affect supply and then prices. What we don’t want to see is people taking advantage of the situation. The government must act fast and must look into the impact of this suspension,” added MCCI president Stanley Go.
Cebu Chamber of Commerce and Industry president Antonio Chiu also wants the Province to fast-track the review of quarry operations to ensure the safety of workers, adding that a lot of people depend on the mining industry.
Chiu said cement produced in Cebu supplies a big portion of the cement needs of the Visayas and Mindanao.
“This will have a big impact on the Build, Build, Build program of President Duterte if not resolved soon,” said Chiu, adding that he is confident that most of the mining operations in Cebu, particularly the big ones, are fully compliant of safety standards. KOC