Source: Onuaonline.com
The government’s Legislative Instrument (L.I.) on cement price regulation has not had any effect on the price of the product since the cost has been soaring since the law’s promulgation.
Players in the real estate sector who are lamenting over the cost of cement despite the passage of the legislation say they don’t know if the law is yet to take effect.
The L.I. which was passed on September 05, 2024, is meant to prevent the excessive price hikes of cement to provide some relief to those in the construction industry.
But, industry players say cement prices have still soared after the law’s passage, making them question the effectiveness of the legislation.
The law initially had a provision which required manufacturers to consult the government before setting cement prices but was expunged after intense opposition from the manufacturers and a section of the public.
Initiated by the Minister of Trade and Industry, Kobina Tahir (K.T.) Hammond, the L.I. was meant to make cement prices go down.
But the Ghana Real Estate Developers Association (GREDA) has expressed dissatisfaction with the law’s implementation.
Speaking at the launch of the Diaspora Property Expo 2025 Thursday, November 21, 2024, Samuel Amegayibor, Executive Secretary of GREDA, told journalists that:
“Since the LI on cement was passed, so far as we the users of cement are concerned, we haven’t seen anything different. Prices have gone up even from the day it was launched, it has gone up further.
“So far as we’re concerned and with our earlier interactions with the manufacturers, nothing is happening, it’s as if no LI has been passed at all. We’re just doing business as usual, maybe it will take effect from a specific date the minister intends to announce, but we are not sure.
“We thought that so far as his last statement was made, the assumption is that it will take effect immediately. So far we’re concerned with the manufacturers, wholesalers and dealers, they have some responsibility per the LI.”
Source: www.onuaonline.com
