Ghana: Minister of Trade and Industry, K Hammond, has presented the Ghana Standards Authority (Pricing of Cement) Regulations 2024 in Parliament. This legislative instrument aims to control cement prices in response to rising costs.
The legislation follows government efforts to persuade manufacturers to reduce prices and address public concerns over escalating costs, according to the Daily Guide Network. Despite opposition from the National Democratic Congress lawmakers and cement producers, the regulation will likely become law after a 21-sitting day period in Parliament. The new law will introduce a price stabilisation fund to ensure consistent cement prices across the country.
Mr Hammond said "For a long time, we haven’t seen cement prices de-escalating. It's always escalating. I think there's something fundamentally wrong with the pricing of cement in the country.”
