Deputy Trade Minister, Michael Okyere Baafi

Deputy Minister for Trade and Industry, Michael Okyere Baafi, has noted that the Ministry is putting down measures to ensure the cement industry in the country is regulated.

According to him, the Trade Ministry will establish a committee to see to the drafting of policies to regulate the industry. This is because the various processes of production and distribution of cement are not regulated.

Interacting with the press, he said “government is working with the cement manufacturers in the area of regulation of cement and even the development of the cement business in Ghana. The cement business is not regulated.”

“We met them, the cement manufacturers, last week. We are going to set up a committee; a committee that will comprise the members of the Ministry of Trade and Industry.”

Meanwhile, the price for a 50-kilo bag of cement is expected to be increased from the current GH¢45 to GH¢55 per bag from next week.

According to Joy Business, the new price won’t be applicable to those in Accra. The bag will go for GH¢60.

Sources say the increment can be attributed to the depreciating value of the Ghana cedi, the recent hikes in transport fares and the Russian-Ukraine war, which has affected the movement of logistics and transportation of some of the raw materials from abroad for local production.

Manufacturers have in recent times pushed for the government to take a second look at the taxes on inputs and charges at ports.

The Chamber of Cement Manufacturers, Ghana, protested the reduction in benchmark value from 50 per cent to 30 per cent.

The Chamber noted that their production cost has skyrocketed and the removal of any form of subsidy will worsen their plight.