Trade Minister Kobina Tahir Hammond has rejected calls from cement manufacturers for stakeholder discussions prior to presenting a legislative instrument aimed at regulating cement prices to Parliament.
In an interview on JoyNews’ PM Express, Hammond acknowledged the manufacturers’ lack of consultation during the drafting process but emphasized ongoing conversations on the importance of pricing transparency.
“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, there to a reduction, I wanted us to understand the basis and the publication.”
“Get this information and let me know…I was told they said I couldn’t do it. 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 get to parliament,” the Trade Minister said.
Despite urging self-regulation to prevent price hikes, his recommendations were not heeded.
Hammond insisted that the proposed legislation would enforce transparency on production costs, facilitating a fair “We firmly believe that the issues leading to the escalation of cement prices are complex and multifaceted, primarily driven by the rapid and consistent depreciation of the Ghanaian cedi against the US dollar.
“Addressing these challenges requires a comprehensive understanding and collaborative effort from all relevant parties, including the Ministry of Trade and Industry, cement manufacturers, and other stakeholders, price ceiling beneficial to both manufacturers and consumers.
The Chamber of Cement Manufacturers expressed strong opposition to the legislative proposal, citing inadequate consultation and advocating for collaborative efforts to address pricing complexities exacerbated by currency depreciation.
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Cement Price Hikes: I asked the cement manufacturers to publish their prices, but they haven't done it – K.T. Hammond. #PMExpress pic.twitter.com/cDVuMmhMLB
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