Removal of price controls on cement restores market pricing while preserving producer accounting and Cement Regulation Account obligations.
The amendment removes central price and distribution controls on cement effective 1 March 1989, deleting statutory powers over removal, sale, transport and price variation while retaining obligations on producers to maintain and produce accounts and records. The Development Commissioner for Cement Industry must maintain a Cement Regulation Account to receive producer payments and grants and to fund freight equalisation, price concessions, export/import adjustments and expenses to increase production and equitable distribution. Producers may claim reimbursements with required supporting details. Delegation of most powers to the Development Commissioner and savings preserving prior rights, liabilities and proceedings are provided.