Government has no plans to cap cement prices in coming days - Trade minister

Kobina Tahir Hammond, Minister of Trade and Industry, has stated that the government has no plans to cap cement prices in the coming days.

The Minister made the announcement after the Legislative Instrument (LI) on cement pricing went into effect after the mandatory 21-day maturation period.

He explained that the new regulations were designed to ensure fair cement pricing throughout Ghana.

“…I am clear beyond argument that there is a certain amount of unfairness in the pricing of cement in the country and I am prepared to make sure that there is some sort of sanity. The document [LI] as we speak is in force,” Mr Hammond told the press.

He added: “I have got a legislative instrument, and it is essentially this, the last argument was that we were going to cap the price [of cement] at which they were going to sell. We indicated that wasn’t it.

“We are going to put in place by virtue of the L. I which has come into force, a committee and the committee is going to ask all the manufacturing companies to put before them the basis for their pricing,” Hammond said.