New cement price regulation law passed

The Legislative Instrument (L.I.) to regulate cement prices has been enacted despite resistance from cement manufacturers and parts of the public.

Originally, the draft L.I. required manufacturers to get government approval for setting prices, but this requirement has been removed.

The Minority in Parliament strongly opposed the L.I., designed to control Ghana’s cement pricing.

Sponsored by Trade and Industry Minister K.T. Hammond, the L.I. faced strong opposition from cement manufacturers who urged Parliament to reject it.

The Minority Spokesperson on Legal and Constitutional Affairs, Bernard Ahiafor, argued that the regulation conflicts with the parent act, which sets standards for all goods and services.

“The parent act by its objects deals with all goods and services, that is setting the standard for all goods and services including the cement, and the understanding of the standard is controlling the quality of all goods and services produced and imported in the country.”

Despite these objections, the LI has been enacted after 21 parliamentary sittings.

K.T. Hammond says the LI will lead to a reduction in cement prices across Ghana.

“I have consistently been arguing that we are not being treated fairly by the cement-producing companies. I have gone through a lot of literature, I am beyond argument. There is a certain amount of unfairness in the pricing of cement across the country and I am prepared to make sure that there is some sanity,” he said.

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