Trade Minister halts cement price hike

The Minister for Trade and Industry, Kobina Tahir Hammond, has ordered the Cement Manufacturing Development Committee (CMDC) to direct cement manufacturers in the country to 'reverse immediately the increase in cement prices recently announced in the country.' The Minister's directive comes in response to the recent arbitrary increases in cement prices. He further requested the publication of the retail prices of cement by all manufacturers, a move aimed at halting the continuous price hikes. In a bid to ensure uniform cement prices nationwide, the Minister reiterated his call for the CMDC to adopt a unified cement pricing mechanism. This mechanism is akin to the Unified Petroleum Pricing Fund (UPPF) adopted by the National Petroleum Authority for fuel retail in Ghana. The CMDC, established under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (LI 2480), is chaired by the Director General of the Ghana Standards Authority (GSA), Prof Alex Dodoo. The committee comprises representativ es from various sectors including cement manufacturers, the Association of Ghana Industries, the Environmental Protection Agency, the Ghanaian Institution of Engineers, the Ministry of Trade and Industry, and the Ministry of Environment, Science, Technology and Innovation. As the regulator for cement manufacture in the country, the CMDC is charged with promoting the 'manufacture, wholesale and retail of cement and cement components.' This latest directive from the Minister, is considered to be part of the government's commitment to ensuring fair pricing in the cement industry. Source: Ghana Web