K.T. Hammond
The Ministry of Trade and Industry (MoTI) has directed individual companies to publish the recommended distribution and retail prices of the various grades of cement sold in each of their respective distribution zones.
This came to light when the Minister of Trade and Industry, K.T. Hammond, met the Chamber of Cement Manufacturers, Ghana (COCMAG) recently to discuss the rising retail cost of cement and its adverse impact on the economy.
A statement issued by the Trade Ministry said it was disturbed by how a bag of cement could sell at GHS95.00 in some parts of the country, notably around the Accra/Tema Municipalities.
The Minister, therefore, called on industry players to take cognisance of the widespread effects of price escalation and the need to closely monitor and exercise control over the recommended ex-factory price margins of distributors and retailers of their respective grades of products across the country.
“Vigorously enforce quality standards and weights of cement products on the market to clamp down on the production and distribution of substandard cement products; as well as collaborate on exploring the possibility of introducing a uniform cement pricing formula that ensured uniformity and consistency in retail pricing across the country, taking into account key cost variables,” it said.
The Ministry also assured the public that these and any other measures necessary will be implemented in collaboration with the Chamber of Cement Manufacturers, Ghana, to ensure price adjustments are justifiable and within reasonable limit.
Members of the Chamber of Cement Manufacturers, Ghana (COCMAG) have agreed to periodically hold consultative meetings with industry players on developments in cement manufacturing, bagging and distribution, especially prior to the announcement of ex-factory price changes by individual companies.
By Samuel Boadi