The Executive Secretary of the Ghana Real Estate Development Association (GREDA), has downplayed the feasibility of the government’s directive for the reversal of cement price increment.
Sammy Amegayibor has said the directive is in bad taste and will be difficult to implement because Ghana is a free market economy.
In an interview on Adom FM’s morning show, Dwaso Nsem, Mr Amegayibor who expressed surprise at price hikes and the consequences on users admitted the manufacturers cannot be blamed.
“When it comes to the issue of price control, we are in a free economy where people determine their prices based on economic situations and other factors.
“There is no way the government can tell people how to sell their goods. What they can do is to put policies in place. They are concerned about price hikes but what can they also do for the manufacturers in the face of the difficulties?” he quizzed.
According to him, the government has done very little to support stakeholders in the competitive market.
“The directive is in bad taste because you cannot just start directing people when the fundamental reasons the prices have gone up have not been touched. You don’t see any efforts on the part of government.
“Every consumer will be happy about a directive to reduce prices by 50% but we need to be realistic in our expectations by looking at both sides,” he stated.
The Minister for Trade and Industry, K.T. Hammond has instructed cement manufacturers to halt price increment and publish their retail prices to curb arbitrary hikes.
However, relevant stakeholders as well as the Minority contends that this approach is misguided and unlikely to achieve the desired outcomes.
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