The Minister for Trade and Industry, K.T. Hammond, has clarified that the government does not intend to cap cement prices in the near future.
His statement follows the implementation of the controversial Legislative Instrument (LI) on cement pricing, which took effect after the mandatory 21-day maturity period.
The Trade Minister explained that, the new regulations are designed to promote fair pricing of cement across 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” Mr. Hammond added.
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