June 27, 2024

Minister for Trade and Industry, K. T. Hammond has argued that Ghanaian would be better served if there is an Authority in place to regulate pricing of cement, as prices keep sky rocketing.

According to him it has become a normal practice where you buy cement today at eighty Ghana cedis and the following morning it has escalated to one hundred Ghana cedis.

He made this assertion at a media briefing in Parliament on Wednesday, June 26, 2024, in the wake of him laying a Legislative Instrument L. I. to set up an Authority to regulate cement pricing in Ghana which has been met with some level of resistance.

The Minister further added that Ghana is producing a lot of cement in the country and has a stored capacity of eleven million tons; but the demand is not that much, so it has become a profitable enterprise for the producers.

“It behooves on those in responsible position to ensure that Ghanaians do not buy it at that high price, I think there is something fundamentally wrong with the cement pricing in the country. We had similar situation during President Kufuor’s time in the petroleum industry where we had an Authority established to regulate it”.

Again, we should have a situation where, a price in the Northern part of Ghana should be same as the Southern Part of Ghana and we should have a holistic look at it and look at whatever factors that goes into it, he affirmed.

Kwaku Sakyi-Danso/Ghanamps.com