The Minority in Parliament has urged President Akufo-Addo to instruct the Minister for Trade and Industry K.T. Hammond to pull the breaks on the proposed legislative instrument aimed at regulating the price of cement in Ghana.
The Minority has vowed to vehemently oppose the laying of this instrument, arguing that it goes against the spirit of its parent Act.
In an interview in Accra Ibrahim Murtala Mohammed, a member of the Trade and Industry Committee, emphasised the need for the President to intervene and stop the L.I.
He criticised the proposal, claiming it contradicts the principles of the NPP, a centre-right political party that traditionally supports market-driven price determination based on supply and demand.
Mr Mohammed highlighted concerns that the NPP, as a party that advocates property ownership, is moving towards policies that contradict its ideological stance by attempting to control cement prices.
He stressed the importance of allowing market forces to dictate prices, a fundamental principle the NPP has historically endorsed.
“What is most outrageous about the proposed L. I is, if you look at the purpose of the regulation, it says that the purpose of the regulation is to provide for 1. The streamlining and regulation of the pricing of cement for wholesale and retail distribution in this country. How do you streamline that? Someone who buys cement from GHACEM, for example, transports the cement to Tamale; another person who buys the cement from DZATA and transports the cement to Walewale, Bolga, and Paga, their prices can never be the same” he argued.
Mr Mohammed has advocated for the government to slash taxes and reduce import duties on raw materials for cement as a strategy to compel manufacturers to lower prices.
According to him, reducing taxes and import duties on raw materials imported for cement production would eliminate any justification for maintaining high prices.
“That is what the government and the Minister have control over. We are not saying that we are not unhappy with the amount of money we are paying for cement in this country. What we are saying is that the reason why we are paying such exorbitant prices is because of the wicked policy interventions of this government in terms of the taxes that they charge on the inputs that are imported into this country.”
