Kobina Tahir Hammond, Ghana’s Trade Minister is set to lay before parliament the Legislative Instrument that seeks to regulate the escalating prices of cement.
A meeting was scheduled between the Ministry of Trade and the manufacturers of cement on Monday, July 1, 2024. The meeting, which, according to the manufacturers, was supposed to be in a closed door, eventually saw the presence of the media at the premises of the Trade Ministry.
Representatives from major cement manufacturers, including GHACEM, Dangote, CBI, CIMAF, and Diamond Cement, boycotted the stakeholder meeting after the Minister of Trade, Hon. K.T. Hammond insisted that the media be present at the meeting.
There have been grave concerns over the rise in prices of cement, with a bag selling at an average price of GH¢105. In order to curb this situation, the government, through the ministry of Trade decided to enact a Legislative Instrument (L.I.).
The decision to control the prices of cement was disagreed on by the manufacturers and stakeholders in the cement manufacturing industry. They argued that the cost of production have increased hence, leading to the increase in the cost of a bag of cement.
The representatives who were present at the meeting on Monday, July 1, 2024, stated that the meeting was intended to be a closed-door session. They expressed their surprise and dissatisfaction with the minister’s decision to invite the media without prior notice, leading them to walk out of the engagement.
The sector Minister, despite the boycott by the manufacturers, emphasised his commitment to protecting the interests of the state by introducing the L.I to control the prices of cement.
The announcement of the L.I has generated several backlashes from the public space including the largest opposition party who describes the intended bill as a reflection of the “wickedness” in President Akufo Addo’s government.
Consumer Protection Organisation, Cuts International also criticised the LI and urged Parliament to reject when it is laid.