Government rules out cement price cap, focuses on fair pricing with new LI

The Trade and Industry Minister, K.T. Hammond, has clarified that the government will not impose a cap on cement prices, despite recent discussions surrounding a new Legislative Instrument (LI) that has taken effect.

Instead, he noted that the LI aims to address concerns about unfair pricing within the industry.

Mr Hammond emphasised the importance of ensuring equity in cement pricing across the country.

“There is a level of unfairness in the pricing of cement in Ghana, and we are committed to bringing stability and fairness,” the minister stated.

The newly implemented LI mandates the formation of a committee to oversee pricing policies.

This committee will require cement manufacturers to present the justifications for their pricing strategies, ensuring greater transparency and accountability within the market.

The minister dismissed earlier claims that the government would impose a price cap, reiterating that the focus is on creating a fair pricing mechanism rather than directly controlling prices.

This move comes in response to public concerns over fluctuating cement prices, which have impacted both the construction industry and individual consumers.