Minister of Trade and Industry, Kobina Tahir Hammond, has issued a directive for an immediate reversal of recent price hikes in cement.
He has also mandated that all cement manufacturers in the country publish retail prices to curb arbitrary increases in this crucial building material.
In an official statement released by the Ministry and dated Tuesday, May 15, 2024, the Minister instructed the Cement Manufacturing Development Committee (CMDC) to promptly implement this directive.
This move follows the Minister’s previous call for the Committee to collaborate with cement companies to establish uniform pricing across the nation.
The statement further outlined plans for the Committee to develop a unified pricing mechanism akin to the Unified Petroleum Pricing Fund (UPPF) used by the National Petroleum Authority for fuel retail in Ghana.
Established under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (Ll 2480), the CMDC serves as the regulatory body overseeing cement manufacturing in the country. Its responsibilities include fostering the manufacturing, wholesale, and retail aspects of cement and its components.
Membership within the Committee encompasses representatives from cement manufacturers, the Association of Ghana Industries (AGI), the Environmental Protection Agency, the Ghana Institution of Engineers, the Ministry of Trade and Industry (MoTI), and the Ministry of Environment, Science, Technology, and Innovation.
