KT Hammond puts Ghana first to regulate cement pricing
As the cost of cement continues to soar in Ghana, the government has stepped in to address the issue, sparking a heated debate with the Chamber of Cement Manufacturers.
Advertisement
While the industry claims the proposed Legislative Instrument (L.I) is a threat to fairness, the minister responsible, Kobina Tahir Hammond (KT) Hammond, maintains that this is a necessary move to protect the interests of Ghanaian citizens.
The recent move by the Minister for Trade and Industry, KT Hammond, to regulate the pricing of cement in Ghana has sparked a heated debate between the government and the Chamber of Cement Manufacturers.
While the manufacturers argue that the proposed Legislative Instrument (L.I) undermines fairness and transparency, the minister remains resolute in his quest to ensure that Ghanaians are not shortchanged in the purchase of cement.
As a nation, we cannot continue to allow the cost of cement to skyrocket without any justification. The manufacturers cannot solely blame the high cost of cement on the rise of the dollar.
There are other factors at play that need to be addressed. The government has a responsibility to protect the interests of its citizens, and this L.I is a step in the right direction.
The argument by the Chamber of Cement Manufacturers that the legislation will lead to cement shortages is unfounded and misleading. Regulation does not mean strangulation. The government is not seeking to control the industry but rather to ensure that prices are fair and reasonable. The manufacturers should not be allowed to hold the nation hostage with their prices.
In Economics, the Law of Demand states that as price decreases, demand increases, and as price increases, demand decreases, ceteris paribus (all other things being equal).
It is disappointing that some parliamentarians are already playing partisan politics with this L.I. This is not a political issue but a national one. All Ghanaians, regardless of their political affiliation, should support this initiative. We cannot allow politics to dictate our economic policies. The minister's initiative is for the good of all Ghanaians, and we should rally behind him.
The manufacturers' claim that the government did not consult them is also misleading. The Minister has been engaging with them for months, and they have been part of the decision-making process.
According to the minister, Dr. George Dawson-Ahmoah, the CEO of the Chamber of Cement Manufacturers, has been a key player in the industry for many years and has been consulted on various occasions. The most recent incident occurred when industry stakeholders boycotted a meeting with the minister prior to the laying of the LI.
In Ghana's cement industry, a delicate balance must be struck between the interests of manufacturers and the welfare of consumers. The government's decision to regulate cement pricing is a crucial step towards protecting citizens from exploitation and ensuring their rights are safeguarded.
While industry players may object, the government's primary responsibility is to its people. It's encouraging to see the minister's unwavering commitment to this cause. We urge all Ghanaians, including parliamentarians, to put the nation's interests first and work together to find a solution that benefits both the industry and the people.
By embracing transparency and collaboration, we can build a more prosperous and equitable economic future. The time for cement pricing regulation is now. We call on all parliamentarians to support this Legislative Instrument and put the nation's interests above political affiliations. Together, let's build a fair and transparent economy that benefits all Ghanaians.