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Indonesian President caps cement prices

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World Cement,

According to a presidential spokesman, Indonesia's President has signed a ruling allowing the government to cap prices of cement and other basic goods during peak demand periods.

"This regulation gives the authority to the government to set special prices ahead of religious holidays or during periods of prices volatility” said Teten Masduki.

President Joko Widodo has also limited the rise in domestic petrol prices as part of attempts stimulate the flagging economy which is at its weakest since 2009.

Edited from source by Joseph Green. Source: Reuters 

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