The Minister for Trade and Industry, K. T. Hammond, has taken a decisive action to address the recent surge in cement prices by directing the Cement Manufacturing Development Committee (CMDC) to intervene immediately.
This directive follows his earlier instruction to the CMDC during its inauguration on March 8, 2024.
Mr Hammond emphasised the need for cement manufacturers in Ghana to reverse the recent price hikes promptly.
Additionally, he urged the CMDC to ensure transparency by mandating the publication of retail prices by all cement companies.
According to the Minister, the measure aims to curb arbitrary increases in cement prices, which have burdened consumers.
Furthermore, the Minister reiterated his call for the adoption of a unified cement pricing mechanism across the nation.
He proposed a model akin to the Unified Petroleum Pricing Fund (UPPF), which regulates fuel retail prices in Ghana. Such a system would promote price consistency and fairness in the cement market.
The CMDC, established under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (L| 2480), plays a pivotal role in regulating the cement industry.
Chaired by Prof. Alex Dodoo, Director-General of the Ghana Standards Authority, the committee comprises representatives from various stakeholders, including cement manufacturers, the Association of Ghana Industries, and governmental bodies.
Its mandate extends to promoting the manufacture, wholesale, and retail of cement and its components.
With a diverse membership encompassing industry experts and regulatory agencies, the CMDC is well-positioned to address challenges and ensure compliance within the sector.
Latest Stories
-
Sustainable Finance: How banks are driving SDG Goals
9 mins -
Guinness Ghana DJ Awards 2024: MC Portfolio nominated as Best MC/Hype man
13 mins -
MFWA holds Peace Dialogue for Youth in the Volta Region
22 mins -
Galamsey fight: Kofi Koranteng wants jail time for Akufo-Addo and ministers over ‘gross incompetence’
26 mins -
FirstBank Ghana joins Global Cybersecurity Awareness Month Initiative
29 mins -
NPP MPs ask Bagbin to recall Parliament after indefinite adjournment
35 mins -
Alan Kyerematen backs calls for forensic audit of Voters Register
40 mins -
G7 Security Systems donates to Hope Training Institute
51 mins -
I would like to feature 50 Cent on remix of ‘Unsinkable’ – Shortman
1 hour -
NSMQ24: TAMASCO stages stunning comeback; beats St John’s School, Accra Academy to secure semi-final slot
1 hour -
Missy Elliott, Queen Latifah first rappers awarded with National Medals of Arts and Humanities
1 hour -
Akufo-Addo to cut sod for construction of Manganese Refinery as gov’t’s value addition drive deepens
2 hours -
EFL criticises NDC’s inaction, calls for recall of Parliament to impeach Akufo-Addo
2 hours -
Springfield Group denies submitting contradictory data to government; demands apology from ACEP
2 hours -
Joe Mettle girds up for ‘Sing Over Ghana’ prayer event
2 hours