TDP national spokesperson Kommareddy Pattabhiram criticized CM Jagan for colluding with other cement companies to raise profits of Bharathi Cements.
He said, “The Bharathi Cements has a production capacity of 10 crore bags of cement. An increase of Rs.100 per bag would result in a profit of thousands of crores. 51 percent of shares were sold to a French company called Vicat and 49 percent of shares were held with Jagan.”
He alleged that Jagan united all the cement companies and raised the prices of cement. The company’s latest financial report had also indicated that they got a ‘record profitability’ and they thanked for the price hike in Andhra Pradesh.
Pattabhiram recalled that “When cement prices were about to rise during Chandrababu’s reign, a cabinet sub-committee headed by Yanamala Ramakrishna was formed. Companies were called and warned not to raise prices. Does Jagan have the guts to do the same?”
Pattabhiram said that “Despite the damage to the construction sector, thousands of workers are left helpless as Jagan raised prices for his selfishness.”