The Minister for Trade and Industry, K.T. Hammond, has clarified that the government has no plans to impose a cap on cement prices in the near future.
This clarification follows the implementation of a new Legislative Instrument (LI) on cement pricing, which took effect after the mandatory 21-day maturity period. The Trade Minister explained that the purpose of the new regulations is to ensure fair pricing of cement across the country.
“I am certain that there is an element of unfairness in cement pricing in Ghana, and I am committed to bringing some order to the situation. The Legislative Instrument is now in force,” Hammond stated.
He went on to dispel rumors that the government planned to set a fixed price for cement, emphasizing, “The last discussion was that we were going to cap the price at which cement would be sold, but we made it clear that this was not the case.”
Instead, he explained that the newly enforced LI would establish a committee tasked with reviewing the pricing structures of cement manufacturers. “The committee will require all manufacturing companies to present the basis for their pricing,” he added.