The Minority in Parliament has agreed with the Legislative Instrument (L.I) laid by Trade and Industry Minister KT Hammond to regulate cement prices.
This agreement comes after KT Hammond laid the legislative instrument before Parliament, following a stakeholder meeting boycotted by representatives of cement manufacturers on Monday, July 1, 2024.
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.
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, expressing their surprise and dissatisfaction with the minister’s decision to invite the media without prior notice, leading them to walk out of the engagement.
Surprisingly, there was no opposition from the Minority as the Minister laid the LI.
Minority Chief Whip Governs Agbodza, during the proceedings, welcomed the L.I, announcing that the issues had been addressed and the LI no longer posed a threat.
Agbodza explained that the LI focuses on price reporting to the committee rather than price control, making it a non-controversial issue.
“The last time the minister was here, colleagues from both sides had very serious concerns and those concerns have been sent back to the committee and have been addressed. I am informed that they have dealt with those issues and based on that, we advise that it is no longer harmless. So we are ok to support it bigger. At least, what I’ve been told is that it is not about price control, it’s the price control element that has been taken out. It is about reporting the price reporting to the committee. And if that is the case, Mister Speaker, the advice is that it’s no longer a controversial issue. So it can go.”
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The post Minority welcomes updated L.I. on cement prices appeared first on Citinewsroom – Comprehensive News in Ghana.
