The Chairman of the Cement Manufacturing Development Committee under the Ghana Standards Authority, Prof. Alex Dodoo has stressed the significance of transparency in cement pricing to maintain sanity within the industry.
This follows the Legislative Instrument laid in Parliament by the Minister of Trade and Industry, K.T. Hammond, to guide the regulation of cement prices.
Prof. Alex Dodoo speaking at a meeting to brief industry players on an LI to regulate cement production explained that the price regulation mechanism is not intended to discourage potential investors.
He emphasised that the primary goal of the LI presented to Parliament for regulating cement prices is to ensure transparency.
“How do you ensure that in being that transparent, and investors don’t feel threatened by threats of going to jail. That’s why we are saying that if the industry does agree, and I keep using my words carefully about average and ex-factory price.”
Emmanuel Cherry, Chief Executive Officer (CEO) of the Chamber of Construction Industry, emphasized the need for thorough discussions on the content of the L.I.
“We want to see a copy of the draft L.I. Let’s interrogate it so that we can speak to the issue accordingly, that’s our concern.”
The Cement Manufacturing Development Committee (CMDC) was inaugurated by the Minister of Trade and Industry, K.T. Hammond, to monitor and coordinate activities in the cement manufacturing sector in accordance with the provisions of the Cement Manufacturer Regulations 2023 (LI 2280).
Source: citinewsroom.com