- LI could harm manufacturers
- Dr. Gyasi argues for a market-driven approach
- LI could lead to a cement shortage
Ghana’s cement industry is urging the government to reconsider a recently proposed Legislative Instrument (LI) on cement pricing.
Concerns Over Price Control Measures
Dr. Tony Oteng-Gyasi, Chairman of Tropical Cables and Conductors Ltd., fears the LI, in its current form, could harm manufacturers. He argues for a market-driven approach over price controls, suggesting it could stifle the economy.
Seeking Transparency Through Discussion
The Association of Ghana Industries (AGI) is seeking dialogue with the Trade and Industry Minister, K.T. Hammond, to address industry concerns. Dr. Oteng-Gyasi suggests this discussion can resolve issues around perceived high prices and explore alternative regulatory approaches.
Transparency and Regional Comparison
Dr. Oteng-Gyasi questions whether the government has compared Ghana’s cement prices to regional neighbors. He suggests such a comparison could determine if price control is truly necessary.
A Call for Collaboration
The AGI, led by its President Dr. Humphrey Ayim-Daker, is actively seeking further discussions with the Ministry.
Potential Impact of the LI
Dr. Oteng-Gyasi warns that the LI, if passed without industry input, could lead to a cement shortage.
Looking Ahead
The future of cement price regulation in Ghana hinges on successful dialogue between the government and industry leaders. Open communication will be key in determining a solution that benefits both businesses and consumers.
