President of the Cement Manufacturers Association (CMA) has expressed strong opposition to the Trade Minister's Legislative Instrument (L.I) aimed at regulating the pricing of cement products in the country.

In an interview on Joy FM’s Newsnite on Tuesday, June 25, Dr. George Dawson-Amoah criticised the lack of consultation with stakeholders regarding the L.I.

He mentioned his unawareness of the development, questioning, “Don’t you involve stakeholders before it gets to Parliament? Why is the minister avoiding or just running away from discussions?”

Dr. Dawson-Amoah explained that the rise in cement prices is influenced by broader economic factors, particularly the rapid and consistent depreciation of the cedi against foreign currencies.

He emphasised that regulating cement prices without addressing the underlying economic issues would be challenging.

“What is happening now with cement price is because of the cedi's rapid and consistent depreciation against the foreign currency,” he said,

In light of this, he believes it would be difficult to control cement prices if the factors causing production cost increases are not regulated.

• Read also: Minority blocks laying of L.I. to regulating cement pricing, demands pre-laying

In May 2024, the Minister for Trade and Industry, K.T. Hammond instructed the Cement Manufacturing Development Committee (CMDC) to direct cement manufacturing companies in Ghana to immediately reverse the hike in price increase.

However, the Cement Manufacturers Association (CMA) rejected this directive citing production costs and the principles of a free market economy, stating that the directive is "without basis and justification" and has refused to comply.

In Parliament today, June 25, the Minister's effort to gain legal backing to regulate the pricing of cement products was blocked by the Minority in Parliament.

The NDC MPs demanded that the L.I. go through pre-laying procedures before being formally laid on the floor.