K.T. Hammond, the Minister of Trade and Industry, has made it clear that the government would not be imposing a price cap on cement in the near future.
This declaration was made subsequent to the obligatory 21-day maturity period, when the contentious Legislative Instrument (LI) on cement pricing went into force.
The Trade Minister claims that the new rules are intended to guarantee equitable cement prices throughout Ghana.
“I am clear beyond argument that there is a certain amount of unfairness in the pricing of cement in the country and I am prepared to make sure that there is some sort of sanity. The document [LI] as we speak is in force.
“I have got a legislative instrument and it is essentially this, the last argument was that we were going to cap the price [of cement] at which they were going to sell. We indicated that that wasn’t it.
“We are going to put in place by virtue of the L.I which has come into force, a committee and the committee is going to ask all the manufacturing companies to put before them the basis for their pricing.”
