The Philippine Cement Importers Association refuted the claim of local manufacturers that increased imports have caused or threatened serious injury to the domestic market, saying some producers raked in billions of pesos in profit in recent years as reflected in their audited annual financial statements.
“Some members of the cement industry are exhibiting continuing profitability amid increased imports, while some are experiencing less profits. This is, thus, not an industry-wide condition,” the association said in a position paper submitted to the Tariff Commission hearing the imposition of safeguard measures on imported cement.
The group denied claims of local cement manufacturers that imports had displaced 17.2 percent of domestic production, cornered 14.2 percent of total demand and caused “serious injury” to local manufacturers.
It added some cement players are experiencing less profits due to other factors not attributable to the increased imports. Othel V. Campos