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    Home » Cement price regulation: Trade ministry and manufacturers standoff deepens .
    Economy and Finance

    Cement price regulation: Trade ministry and manufacturers standoff deepens .

    Adnan AdamsBy Adnan AdamsJuly 2, 2024No Comments16 Views
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    Cement price regulation 

     

    Adnan Adams Mohammed

     

    A petition to Parliament opposing a proposed Legislative Instrument (L.I.) aimed at regulating cement prices has been criticized by the Trade and Industry Minister.

     

    Last week, the Chamber of Cement Manufacturers, Ghana (COCMAG) raised strong objections to a proposed Legislative Instrument (LI) intended to regulate cement prices submitted to Parliament by the Minister of Trade and Industry, K.T. Hammond.

     

    The cement industry players are not happy with the minister over lack of consultation on the proposed Instrument. They believe the proposal does not address the primary issue driving cement price hikes: the rapid depreciation of the Ghanaian cedi against the US dollar.

     

    “The unilateral attempt by the Minister to introduce this proposal to Parliament without engaging with us is not only unfair but also detrimental to the spirit of partnership and mutual respect that should guide our collective efforts to stabilize and grow the industry,” Dr. George Dawson-Ahmoah, CEO of COCMAG said whilst criticizing the move, highlighting its impact on fairness, transparency, and inclusive decision-making.

     

    COCMAG’s petition to Parliament urges the rejection of the proposed LI and calls for the Minister of Trade and Industry to engage with the Chamber and other stakeholders to address the root causes of cement price escalation.

     

    “In light of these concerns, we respectfully petition Parliament to decline the proposed Legislative Instrument and to direct the Minister of Trade and Industry to engage with the Chamber of Cement Manufacturers and other relevant stakeholders to discuss and address the underlying causes of the price escalation. Such a collaborative approach will enable us to develop effective and sustainable solutions that consider the interests of all parties involved,” the petition read.

     

    Dr. Dawson-Ahmoah also reiterated the chamber’s commitment to collaborating with the government for a stable and prosperous cement industry in Ghana.

     

    “We trust that you will consider our petition so as to ensure that the voices of the primary stakeholders in the cement industry are heard and respected,” he added.

     

    Meanwhile, in his interaction with journalists, Hon Hammond affirmed the government’s commitment to ensuring fair pricing for Ghanaians.

     

    “I think there’s something fundamentally wrong with the pricing of our cement in the country. It was about the same issue that we tackled when we were at the Ministry of Energy. I believe that there has to be some sanity in the system.”

     

    Mr. Hammond revealed that he had received a copy of the petition from the Chamber of Cement Manufacturers, describing it as “pretty insulting.”

     

    He expressed surprise at Dr. Dawson-Ahmoah’s stance, given their long-standing professional relationship.

     

    “Dr. George Dawson-Ahmoah, he’s been a person I have known for many years when he was at GHACEM. We have been very good friends. He has been in consultation with us. He has been on board with respect to all that we have undertaken,” Mr. Hammond recounted.

     

    He criticized Dr. Dawson-Ahmoah for suggesting that Parliament should direct him to retract the L.I. and consult with the Chamber.

     

    “Now he arrives in Parliament and tells Parliament to order me to take back my documents and to consult with him because what I have done is not right or respectful.

     

    “But he has a PhD, he’s a doctor, so reading and comprehension shouldn’t be a problem for him. He should go and read the constitution and he will see that by Article 11 thereof, Parliament doesn’t tell me to go and consult with him,” Mr. Hammond asserted.

     

    Emphasizing the need for regulated cement prices, Hammond urged manufacturers to maintain fair pricing practices.

     

    “I am going to encourage my colleagues to ensure that there is some sanity in the pricing of cement products in the country. It’s about time that somebody took a handle on the situation and got things in the right direction,” he added.

     

    Dr. Dawson-Ahmoah Dr. George Dawson-Ahmoah Mr Hammond trade ministry
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