The Executive Secretary of the Ghana Real Estate Development Association (GREDA) has said the proposed Legislative Instrument (L.I.) for cement prices is a step in the right direction.

However, the Executive Secretary said it may not be the solution to the soaring prices because there are fundamental issues that need to be addressed.

In an interview on Adom FM’s morning show, Dwaso Nsem on Tuesday, Sammy Amegayibor noted that cement is a major component in building and construction, so any significant change in its price greatly impacts their operations and activities.

In this regard, consumers will be excited about any move to regulate and stabilise the price.

“I’m not too sure the L.I is the solution except if the Ministry has listened and interrogated the concerns of the manufacturers about the factors responsible for the increment. If not, it will be premature to proceed with the L.I without asking what the fundamental issues are.

"If you reduce the price of cement today or tomorrow, we will be very happy but we have to be very fair because we are all in the business of manufacturing,” he added.

Mr Amegayibor has therefore admonished the Trade Minister, Kobina Tahir (K.T) Hammond to engage the manufacturers to guide the best way forward.