The Minister for Trade and Industry, K.T. Hammond, has clarified that the government has no plans to impose a cap on cement prices in the near future.
This statement follows the introduction of a controversial Legislative Instrument (LI) on cement pricing, which took effect after the mandatory 21-day maturity period.
Speaking on the new regulations, the Trade Minister explained that the goal is to promote fair pricing of cement across the country, rather than enforcing price controls.
Mr. Hammond emphasized the importance of ensuring equity in cement pricing nationwide, particularly in light of market disparities.
The LI mandates the establishment of a committee responsible for overseeing cement pricing policies. This committee will require manufacturers to justify their pricing strategies, promoting greater transparency and accountability in the market.
In response to earlier speculation about price caps, the minister dismissed these claims, reiterating that the government’s focus is on creating a fair and balanced pricing mechanism, not directly controlling prices.
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Story by: Osei Akoto (Teacher Kojo) #Ahotoronline.com
