Stable prices of construction materials assured

CEBU, Philippines - The president of the Cebu Chamber of Commerce and Industry has assured a stable price of construction materials following reports of overpricing in northern Cebu.

Lito Maderazo, however, explained that because the demand was high the cost of materials also went up.

"There is a high demand for construction materials after Yolanda, we all know that. And the law of supply and demand says that if the demand is high and the supply is constant, we can expect a higher cost of the materials. But I think it has stabilized already," said Maderazo.

Maderazo said he already talked to his members in the construction industry and that they are even "more than willing to help, especially those NGOs (non government organizations) who are buying in bulk to be donated to the people in the Northern Cebu."

Donors who helped rebuild the houses of typhoon victims in northern Cebu earlier complained of the alleged overpricing of construction materials.

In fact, a ply of "amakan" (bamboo walling) which used to be P175 is now more than P200. A plyboard also used to be around P600 but it now cost close to P1,000.

Donors, who have been sending construction materials to the north, have asked the Department of Trade and Industry to look into it.  (FREEMAN)