Consumer advocacy groups are urging the government to reconsider its stance on regulating cement prices, warning that such measures could deter potential investors from entering the industry.
They recommend implementing robust policies to attract investors to the cement sector and addressing issues like the depreciation of the cedi.
This appeal comes after the Ministry of Trade and Industry criticized Ghana’s cement manufacturers for petitioning against a proposal for cement price regulation. Appiah Kusi Adomako, West African Regional Director of Cuts International, emphasized these concerns during an appearance on Accra-based Citi Breakfast Show.
“In this democratic era, it would be detrimental for the government to enforce price regulation. Such actions could discourage potential investors from entering the market, fearing future regulatory interventions,” Adomako stated.
He further noted, “key factors like the cedi-dollar exchange rate and the cost of electricity must be addressed. If the Public Utilities Regulatory Commission (PURC) reviews tariffs every quarter and production costs rise, we need to focus on stabilizing the cedi to support the industry.”
