Trade and Industry Minister K.T. Hammond has declared his intention to disregard a petition from the Chamber of Cement Manufacturers, which sought to delay the implementation of a legislative instrument (L.I.) aimed at regulating cement prices in Ghana.
K.T. Hammond emphasized that the law is crucial to prevent exploitation by a cartel of manufacturers.
According to the proposed L.I., cement manufacturers could face up to three years in prison for violations. Despite opposition from the Minority in Parliament and various interest groups, K.T. Hammond remains resolute in his decision.
In an interview with Evans Mensah on JoyNews’ PM Express, K.T. Hammond explained that he has made multiple attempts to engage the manufacturers in good faith. However, these efforts were unsuccessful, leading to his decision to enforce the law to ensure fair pricing for consumers.
“I intend to ignore the petition. I am working in the interest of the good people of Ghana and not in the interest of cement manufacturing companies,” he asserted.
Hammond noted that although the manufacturers were not consulted during the drafting of the L.I., he has consistently communicated with them about the need for transparency in pricing.
“I didn’t have to consult them in drafting the L.I. I warned them consistently that they couldn’t do what they’re doing—raising prices. I consulted with them several times in my office, I told them what I wanted. I wanted them to be transparent, for there to be a reduction,” he said.
He mentioned that the manufacturers had dismissed his warnings, leading to his decision to move forward with the legislative process.
“On a simple matter of price publication and self-regularisation, I have been going on and on… it gets to a point when something has to be done, and what has to be done for me within the law is to go to Parliament,” the Trade Minister stated.
K.T. Hammond expressed hope that the bill to regulate cement prices will be passed soon. He aims to lay the legislative instrument in Parliament and secure its passage before the current session expires.
“I have given the bill to my leader, the Majority Leader, to get it laid, and I expect that within 21 days it should become law. By Thursday or Friday, it should be laid. I have a funny feeling that on this occasion they won’t battle me because if you battle me on this, you are battling the good people of Ghana,” he concluded.