KT Hammond to lay LI on cement price regulation after manufacturers boycotted stakeholder meeting

Trade and Industry Minister KT Hammond is expected to lay before Parliament the legislative instrument seeking to regulate the prices of cement after representatives of cement manufacturers boycotted a stakeholder meeting on Monday, July 1.

Concerns have been raised about the rising cement prices, with a bag selling for an average of GH¢105. To halt the rise, the government initiated processes to regulate the cost by introducing a legislative instrument.

A meeting was scheduled between the Trade and Industry Minister and major players in the cement industry to discuss the LI but the latter boycotted it.

Representatives from major cement manufacturers, including GHACEM, Dangote, CBI, Cimaf, and Diamond Cement, boycotted the stakeholder meeting.

The boycott was triggered by the unexpected presence of the media at the Ministry’s premises.

The representatives stated that the meeting was intended to be a closed-door session. They expressed their surprise and dissatisfaction with the minister's decision to invite the media without prior notice, leading them to walk out of the engagement.

Despite the boycott, KT Hammond insisted on including the media in the meeting. He proceeded to address the journalists, emphasising his commitment to protecting the interests of the state.

The National Democratic Congress (NDC) has described the LI as an indication of the wickedness of the Akufo-Addo-led government towards Ghanaians.

Consumer Protection Organisation, Cuts International also criticised the LI and urged Parliament to reject when it is laid.

-Citi Newsroom