The recent decision by cement producers and importers to increase prices has sparked concern and raised eyebrows, drawing the attention of Trade and Industry Minister, KT Hammond. Describing the development as troubling, the Adansi Asokwa MP has voiced his disapproval, labeling it as a "conspiracy of a cabal of cement producers and importers."
In a statement addressing the issue, Minister KT Hammond emphasized the government's efforts in providing an enabling environment for cement producers to thrive. He expressed disappointment in the unjustifiable upward review of prices, highlighting that such actions are unwarranted considering the support extended to the industry.
During a recent address, Minister KT Hammond articulated his concerns, stating, "The government has provided the necessary ambience and regulatory framework, the proper environment for these companies to operate and do their businesses profitably. I expect that they make their reasonable profits, but what I don’t accept is for them to take the people of Ghana for granted. I can’t understand the basis for the increase."
This stance reflects the government's commitment to fostering a conducive business climate while ensuring fair pricing for essential commodities such as cement. The Minister's remarks underscore the need for responsible and considerate pricing practices within the industry.
The surge in cement prices appears to contradict previous assertions made by Vice President Dr. Mahamudu Bawumia in December 2023. Dr. Bawumia had highlighted the positive impact of government measures on macroeconomic stability, specifically noting a decline in the prices of various consumer goods, including cement. The recent price hike presents a stark contrast to this earlier observation, prompting scrutiny and calls for accountability within the sector.
As stakeholders assess the implications of this price increase, it is imperative for all parties involved to prioritize transparency and fairness. The concerns raised by Minister KT Hammond reflect a broader commitment to safeguarding consumer interests and upholding economic stability.
The decision to raise cement prices has drawn criticism from Trade and Industry Minister KT Hammond, who has denounced it as unjustified and detrimental to the interests of the Ghanaian people. As discussions on this issue unfold, it is essential for industry players to engage in constructive dialogue and collaborative efforts aimed at addressing the root causes of this concerning development.
The government's unwavering commitment to fostering a conducive business environment remains steadfast, and it is imperative for all stakeholders to align their practices with the broader goal of ensuring equitable access to essential commodities for all citizens.
(This article is sourced from citinewsroom.com curated by Mawuli Agboliya | Mydailyreports24)
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