Cement retailers commend govt for passage of price regulation LI

On September 13, 2024, 7:35 AM

Several cement retailers have expressed their support for the recent passage of the Legislative Instrument (LI) aimed at regulating cement prices.

They believe the new law will provide much-needed relief and stability in the conduct of their businesses.

The LI officially became law after a 21-day review period concluded, despite opposition from cement manufacturers and parts of the public.

It was initially introduced in Parliament on July 2 by the Minister of Trade and Industry, K.T. Hammond.

While some industry stakeholders resisted the regulation, the LI was passed into law following the mandatory review period.

In interviews conducted, retailers in Accra shared their perspectives on the new regulation.

Cement retailer Vida Okyere emphasized the significance of the LI, stating that it would help stabilize prices, making it easier for retailers to manage their operations effectively.

“It’s a good idea because some of the customers, maybe the person, are supposed to buy 20, but because of the increments, you will not buy the 20, you buy less, maybe 10…For instance, if someone wants to maybe want to build a house, he can’t start with this high cost of cement. He can’t even purchase it.

Retailer Fred Andoh noted that the L.I. will have a positive effect on their operations.

In an earlier interview, Emmanuel Cherry, Chief Executive Officer of the Chamber of Construction and Industry, stated that the Chamber will continue discussions with the Trade Minister about the LI.

Meanwhile, the Chamber of Cement Manufacturers, Ghana, has remained silent on the LI’s passage.