Minority backs L.I on Cement price regulation

The Minority in Parliament has welcomed the Legislative Instrument (L.I) laid by the Trade and Industry Minister KT Hammond to regulate cement prices.

This comes after KT Hammond laid before Parliament the legislative instrument after representatives of cement manufacturers boycotted a stakeholder meeting on Monday, July 1, 2024.

Concerns have been raised about the rising cement prices, with a bag selling for an average of GH¢105. To halt the rise, the government initiated processes to regulate the cost by introducing a legislative instrument.

A meeting was scheduled between the Trade and Industry Minister and major players in the cement industry to discuss the LI, but the latter boycotted it.

Representatives from major cement manufacturers, including GHACEM, Dangote, CBI, Cimaf, and Diamond Cement, boycotted the stakeholder meeting.

The boycott was triggered by the unexpected presence of the media at the Ministry’s premises.

The representatives stated that the meeting was intended to be a closed-door session, expressing their surprise and dissatisfaction with the minister’s decision to invite the media without prior notice, leading them to walk out of the engagement.

Surprisingly, there was no opposition from the Minority as the Minister laid the LI.

Minority chief whip, Governs Agbodza, during the proceedings welcomed the L.I, announcing that the issues had been addressed and the L. I no longer poses a threat.

Agbodza explained that the L. I will focus on price reporting to the committee, rather than price control, making it a non-controversial issue.

“The last time the minister was here, colleagues from both sides had very serious concerns that those concerns have been sent back to the committee and have been addressed. I am informed that they have dealt with those issues and based on that we advise that it is no longer harmless.

“So we are OK to support it at least what I’ve been told, that it is not about price control, it’s the price control element that has been taken out. It is about reporting the price reporting to the committee. And if that is the case, Mister Speaker, the advice is that it’s no longer a controversial issue. So it can go.”

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