- K.T Hammond intervened to curb recent increases in cement prices
- The Minister has advocated for transparency in cement pricing
- He has suggested the implementation of a unified pricing mechanism for cement
Minister for Trade and Industry, K. T. Hammond, has intervened to put a stop to recent hikes in cement prices, instructing the Cement Manufacturing Development Committee (CMDC) to immediately reverse the increases.
This action follows his earlier directive to the CMDC during its inauguration on March 8th, 2024.
Additionally, the Minister has urged for transparency in pricing by mandating all cement manufacturers in Ghana to disclose retail prices.
He emphasized the need for stability in pricing and suggested implementing a unified pricing mechanism, similar to the Unified Petroleum Pricing Fund (UPPF) used in fuel retail by the National Petroleum Authority.
The CMDC, chaired by Prof Alex Dodoo, Director General of the Ghana Standards Authority, is responsible for regulating cement manufacturing in the country.
Comprising various stakeholders including cement manufacturers, industry associations, and government bodies, its mandate includes promoting fair practices in cement manufacturing and distribution.
