K.T. Hammond clarifies govt’s stance on cement price cap amid new regulations

The Minister for Trade and Industry, K.T. Hammond, has clarified that the government has no plans to impose a cap on cement prices, despite recent speculation.

This follows the implementation of a controversial Legislative Instrument (LI) on cement pricing, which became effective after its 21-day maturity period.

Hammond explained that the new regulations aim to promote fair pricing in the cement market across Ghana, addressing concerns over price disparities.

“I am clear beyond argument that there is a certain amount of unfairness in the pricing of cement in the country and I am prepared to make sure that there is some sort of sanity. The document [LI] as we speak is in force.

“I have got a legislative instrument and it is essentially this, the last argument was that we were going to cap the price [of cement] at which they were going to sell. We indicated that that wasn’t it.

“We are going to put in place by virtue of the L.I which has come into force, a committee and the committee is going to ask all the manufacturing companies to put before them the basis for their pricing.”