By: Nana Yaa Kyeretwie
Trades and Industry Minister, KT Hammond, has pre-laid in Parliament a bill that seeks to regulate cement prices in the country.
KT Hammond insists that the law is essential to prevent a cartel of manufacturers from exploiting the public.
Under the proposed LI, cement manufacturers could face up to three years in jail for violations.
Addressing the parliamentary press corps, Mr K.T. Hammond expressed displeasure at the rate at which cement prices are being increased.
“I am not comfortable, I don’t believe we are getting good prices for our cement,” he said
According to him, there is some arbitrariness in cement pricing in the country even though there are several brands in the market.
He indicated that, he will disregard the petition from the Chamber of Cement Manufacturers to delay the implementation of a legislative instrument aimed at regulating cement prices.
He revealed that, they are taking same measures they used to regulate petroleum prices in the country.
He added that, he has set up a committee that will engage the various stakeholders in the cement industry to bring some stability and holistic pricing of cement.