Cement prices: It behooves on us in authority to ensure Ghanaians aren’t fleeced – Trade Minister

Trade and Industry Minister Kobina Tahir (K.T.) Hammond has justified the introduction of the controversial Legislative Instrument (L.I.) that is seeking to regulate cement prices in the country.

He says that as persons in authority, it is their duty to ensure that Ghanaians are not fleeced.

“At a point in time, we are not producing so much cement in the country. Now we have an installed capacity of over 11 million tons in the country. Our demand is nothing like 11 million, so it must be a very profitable enterprise. But I think it behooves on those in responsible positions of authority to ensure that the good people of Ghana are not fleeced. I am not comfortable, I don’t believe that we’re getting good prizes for all that it’s worth,” he said.

There must be some sanity in the system – KT Hammond justifies L.I. to regulate cement prices

He further observed that there is something fundamentally wrong with cement pricing in the country hence the introduction of the L.I.

“Now I take the view that it’s about time that the country was better served by those who are selling this product to us.

“You have a kind of arbitrariness in the pricing of cement. It’s been so haphazard, I strongly believe that there must be some sanity in the system,” K.T. Hammond told journalists in Parliament on Wednesday, June 26.

This was after an attempt to lay the document in Parliament on Tuesday, June 26, was blocked by the Minority.

The opposition lawmakers insisted the L.I. must first be discussed.