Sunday, 23 June

Work with cement companies to ensure uniform cement prices, reverse price increase – K.T. Hammond to CMDC

Business
He also called for the publication of retail prices by all cement manufacturers to enhance transparency and prevent continual price surges

The Minister for Trade and Industry, K. T. Hammond, has mandated the Cement Manufacturing Development Committee (CMDC) to order an immediate reversal of the recent cement price increases by manufacturing companies in Ghana.

Reflecting on his directive given at the CMDC's inauguration on Friday, 8 March 2024, Mr. Hammond stressed the urgency of curbing arbitrary price hikes. 

He also called for the publication of retail prices by all cement manufacturers to enhance transparency and prevent continual price surges.

“I further reiterate my call for the CMDC to work with cement companies to ensure uniform cement prices nationwide by adopting a unified cement pricing mechanism,” Mr. Hammond stated. 

He suggested a system similar to the Unified Petroleum Pricing Fund (UPPF) employed by the National Petroleum Authority for fuel retail in Ghana.

The CMDC, formed under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (L.I. 2480), is chaired by Prof. Alex Dodoo, Director General of the Ghana Standards Authority. 

The committee comprises representatives from cement manufacturers, the Association of Ghana Industries, the Environmental Protection Agency, the Ghanaian Institution of Engineers, the Ministry of Trade and Industry, and the Ministry of Environment, Science, Technology, and Innovation.

As the regulatory authority for cement manufacturing in Ghana, the CMDC is charged with promoting the manufacture, wholesale, and retail of cement and its components, ensuring a stable and fair market for all stakeholders.

Source: classfmonline.com/Elikem Adiku