Trade and Industry Minister K.T. Hammond has justified the necessity of the Legislative Instrument (L.I.) aimed at regulating cement prices to prevent excessive profiteering by certain cement manufacturers.
The Minister clarified that the L.I. would not dictate prices but would instead promote transparency in the country’s cement pricing.
The government’s plans to introduce an L.I. to oversee cement pricing have sparked controversy. Cement manufacturers, in particular, have vehemently opposed the proposal, arguing that such regulation is unnecessary in a liberalized market and is also unconstitutional.
Mr Hammond, during a stakeholder meeting with the Ghana Chamber of Construction Industry and the Chamber of Cement Manufacturers in Accra on Friday, emphasised the need for the L.I. to provide relief to the public.
He dispelled concerns that the L.I. would control cement prices in the country.
Meanwhile, Emmanuel Nene Martey, Chairman of the Ghana Chamber of Construction Industry, revealed the Chamber’s plans to engage with cement manufacturers to decide whether to persist with their opposition to the L.I. before it becomes law.
