Cement price regulation: Manufacturers shun meeting with Trade Minister

A planned meeting between the Minister of Trade and Industry, Kobina Tahir Hammond, and cement manufacturers on Monday, July 1, was boycotted by the manufacturers due to disagreements about a proposed legislative instrument (LI) that would control cement prices.

Manufacturers Dangote, Supacem, Ghacem, Diamond Cement, and CIMAF were said to have objected to the meeting, stating that private meetings were required.

Responding to the manufacturers in a press briefing on Monday, K. T. Hammond, who appeared undisturbed about their no-show, said he was committed to meeting with the manufacturers to seek their input prior to laying the LI.

“This was not supposed to be a press conference. It was supposed to be a meeting with the cement manufacturers. You will recall that in the last few days, I didn’t quite lay a document, but I have given an indication of my intention to lay an LI, which will relate to the pricing of cement in the country.

He rejected claims by the manufacturer and critics that the LI had already been laid without their contributions, emphasising that consultations had been ongoing.

“I am not sure, but I suspect that in my absence, the majority leader may have sent it out. I haven’t been able to ascertain what exactly happened, but somehow it has gone all over the country that we are trying to lay an LI. I am going to do it; we didn’t do it on this occasion.

“The story out there is that the NDC prevented us; that is not true… I just gave a copy to my leader, the majority leader, concerning what I had in mind. But since that time, there have been so many complaints that I hadn’t consulted with the stakeholders before trying to lay the LI as they claim. I have refuted that on the various platforms,” the minister said.

“Consultation with these players has continuously been taking place. On a specific occasion, when I inaugurated a committee that was going to be responsible for this price regulation, I charged the manufacturers and their respective associations to be mindful of pricing cement in the country,” he added.

The manufacturers have the past few months been drumming home their opposition to attempts to regulate the prices of cement amidst consumer complaints of rising prices of the products, currently selling between GH¢ 92 and GH¢ 120 per bag.