You want to regulate cement pricing because you can't control the exchange rate - Haruna Iddrisu

Member of Parliament for Tamale South, Haruna Iddrisu, has strongly criticised Trade Minister K.T. Hammond’s proposed Legislative Instrument (L.I) to regulate cement pricing.

Haruna Iddrisu argued that the Ghana Standards Authority should regulate standards, not prices, and that market forces should determine pricing in a liberal democracy.

“The Ghana Standard Authority is an institution that regulates standards, not pricing. Ghana cannot go this low that in a democracy and liberal country where market prices must determine prices we have a minister acting to regulate in the name of the republic. This is not to be contemplated by a government that believes in property-owning democracy.

“You want to regulate the pricing because you cannot control the exchange regime and the stability and strength of your cedi and you want to regulate and dictate that this must be the selling point of cement.

He urged the committee for subsidiary legislation to review the L.I before it becomes law in 21 days unless annulled by a two-thirds parliamentary majority.

"Cement affects everybody," he noted, stressing the need for parliamentary input to avoid setting a precedent for price regulation on other commodities like fuel and diesel.

Trade Minister Hammond's L.I, laid in Parliament on July 2, is expected to become law after 21 days unless annulled by a two-thirds majority in Parliament.

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