23/03/2010
Distributors accused of causing the iron factories shortage
Number of contractors have stopped the completion of their projects due to lack of the required sizes
Steel distributors have accused the factories yesterday as being the main reason behind the scarcity of supply in the market, a scene that reflects the severity of the crisis that has overshadowed the projects of citizens and contractors in the Kingdom.
The distributors declared to "Al-Watan" yesterday that they are no longer able to withdraw the quantities required due to the low level of production from the same factories.
They pointed out that they actually began to withdraw large quantities of the imported iron to meet the demands of consumers, pointing out that this step aims to provide some measurements to citizens to complete their own projects.
A number of contractors said they stopped the completion of some projects due to the unavailability of many sizes required, and called for an urgent solution to this crisis before they escalate.
Abdullah Gergor, A Steel Distributer in Riyadh, said: Unfortunately, factories have accused distributors of draining the market and manipulate prices, which cannot happen at all because of the low level of factories production. "
For his part, member of the contractors in Riyadh Chamber of Commerce and Industry ,Mr.Fahad Al-Farawy confirmed to "Al-Watan" the low level of supply, and said, "small and medium-contractor is the most affected by the process of drying the market."
The contractor "Ali" said to "Al-Watan" yesterday that he went to shut down some residential projects under his responsibility during the past two days, pointing out that the reason for this lies in the lack of some rebar sizes required.
The Minister of Trade and Industry, Abdullah bin Ahmad Zainal has issued a decision on Tuesday to determine penalties for each of the refrain from the sale of locally manufactured iron importer, or sell more than the prices set and declared on the internet. The prices set on the official website of the Ministry of Trade and Industry on the Internet proofs the violations by committees formed by His Excellency the Minister of Trade and Industry to raised by the Ministry of Commerce and Industry to HRH the Second Deputy Premier and Interior Minister Prince or whomever his Highness sees to get a resolution for punishment.
