- New L.I. to regulate cement price passed
- The legislation has been enacted after 21 parliamentary sittings
- The initial draft of the L.I. included a controversial provision
A new Legislative Instrument (L.I.) aimed at regulating cement prices in Ghana has been passed into law, despite strong opposition from cement manufacturers and certain segments of the public.
The initial draft of the L.I. included a controversial provision that would have required cement manufacturers to obtain government approval before setting prices.
However, this provision has been removed from the final version.
The Minority in Parliament voiced significant concerns about the proposed L.I., arguing that it contradicted the underlying legislation governing standards for all goods and services.
Minority Spokesperson on Legal and Constitutional Affairs, Bernard Ahiafor, emphasized that the act deals with setting standards for all products, including cement, and that controlling these standards is essential for ensuring the quality of goods and services produced and imported in Ghana.
Despite facing resistance from cement manufacturers, who urged Parliament not to approve the L.I., the legislation has been enacted after 21 parliamentary sittings.
Trade and Industry Minister K.T. Hammond, the sponsor of the L.I., has expressed confidence that the new law will lead to a reduction in cement prices across the country.
He has consistently argued that cement producing companies have been engaging in unfair pricing practices and that the L.I. will bring much-needed sanity to the market.
