Trade Minister wants cement manufacturers to publish retail prices
In response to growing concerns over the rising cost of cement, Minister of Trade and Industry, Kobina Tahir Hammond, has taken decisive steps to enhance transparency and quality control within the industry.
Following a meeting with the Chamber of Cement Manufacturers, Ghana (COCMAG), the Ministry announced a series of measures aimed at addressing issues related to pricing and product standards.
The Minister has called upon individual companies involved in cement production to publish the recommended distribution and retail prices for various grades of products within their respective distribution zones.
This move is part of an effort to foster transparency and empower consumers with information about pricing structures. Additionally, the Ministry expects companies to rigorously enforce quality standards and weights of cement products in the market.
This initiative aims to eliminate the production and distribution of substandard cement products, ensuring that consumers receive products of the highest quality. The discussions between the Ministry and COCMAG also led to a collaborative effort to explore the possibility of introducing a uniform cement pricing formula.
This formula seeks to achieve consistency and uniformity in retail pricing across the country, taking into account key cost variables.
Expressing concern about the economic impact of the escalating retail cost of cement, Minister Hammond questioned the justification for a bag of cement selling at GHS95.00 in certain regions, including around the Accra/Tema Municipalities.
Emphasizing the need for industry players to be mindful of the widespread effects of price escalation, he urged them to closely monitor and exercise control over the recommended ex-factory price margins of distributors and retailers nationwide.
The Ministry assured the public that these measures, including any additional necessary actions, will be implemented in collaboration with COCMAG. The objective is to ensure that price adjustments are justifiable and kept within reasonable limits, underscoring the commitment to fair practices and consumer protection within the cement industry.
