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The Ghana Real Estate Developers Association (GREDA) has welcomed an L.I proposed by the Minister of Trade and Industry, K.T. Hammond, which seeks to regulate the pricing of cement prices in the country.
The Minister believes the L.I, when passed by Parliament, will prevent customers from being fleeced.
However, the announcement of the L.I did not sit well with manufacturers of cement and the Importers and Exporters Association.
They are demanding that the L.I be thrown out of Parliament.
But the President of GREDA, Patrick Ebo Bonful, in an interview, said the L.I will ensure effective costing in the real estate sector.
"There should be a price mechanism like it has been introduced in the petroleum sector. A method where these things are done. That is the reason why they can come out and say by this pricing window, diesel can go up by X percent and petrol can go up by X percent. It helps businesses to predict and plan.
"At the end of the day, we are all living in this country. If one sector is going to think of themselves and just be whipping us with price increases every week, businesses will suffer, and the country as a whole suffers, and they, the manufacturers, will suffer the worst because they will produce the cement and it will still sit at their warehouses and factory. So we need to sit at the roundtable, come out with a regulated formula that we can all relate to."
