July 25, 2024
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We don’t need L.I. to regulate price; resolve depreciation – Cement manufacturers tell K.T. Hammond

The Executive Secretary of the Cement Manufacturers Association of Ghana (CMAG) is taken aback by the move by the Trade Ministry to introduce a Legislative Instrument (L.I) to regulate the price of cement products.

Rev. Dr. George Dawson-Ahmoah insists that this approach by the Minister to reduce prices is akin to putting the cart before the horse.

According to him, his outfit was not even consulted before this proposal and therefore has no idea about what the draft document entails.

“We don’t know anything about it. And with my common knowledge in legislative instruments, don’t you involve stakeholders before it gets to Parliament? Don’t you involve stakeholders in the process?” he quizzed on Tuesday.

This follows a public uproar over the increasing price of the commodity.

To address this, the Minister laid a fresh legislative instrument, which was vehemently opposed by the Minority.

The NDC MPs are demanding that the legislative instrument (LI) go through pre-laying procedures before being formally laid on the floor.

Speaking on Joy FM’s Top Story, Dr. Dawson-Ahmoah believes the Minister is approaching the problem incorrectly.

He suggests that the government should instead focus on solving the economic challenges.

According to him, the price increase is driven by the depreciation of the local currency.

“Why is the Minister avoiding or just running away from this discussion? Previously, our position has been that these prices of cement, the increase of prices of cement, it is not done in a vacuum. It is not done just because we wake up in the morning and do it.

It is as a result of a negative trend in the economy, which is warranting such increases, and that is the issue. And like I said, what is happening now with cement prices is just because of the rapid and consistent depreciation of the cedi against the foreign currencies.

For these reasons, he declared his opposition to the move.

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