Qatar freezes steel, cement prices

PRICE FREEZE: Qatar plans to impose a three-year freeze on steel and cement prices as well as extend a diesel subsidy for another year to offset the impact of inflation. (Getty Images)

Qatar is to freeze the prices of four basic construction materials for three years, Prime Minister and Foreign Minister Sheikh Hamad bin Jassem bin Jabor Al Thani told businessmen in Doha on Monday.

“There will be a freeze in current prices for four construction materials, including sand, steel, cement and gabbro, which will not be increased for a period of three years,” said Sheikh Hamad, Qatari daily The Peninsula reported.

The prime minister said a decision to this effect would be issued soon and the government would absorb any surcharges so that contractors in the construction sector could go on with their projects without fear of price increase in these basic materials, the newspaper said.

The prime minister added that subsidised prices, at which diesel is sold to local companies will be extended for another year.

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