KT Hammond bemoans increase in cement prices

Trade and Industry Minister, KT Hammond, has described as troubling the decision of cement producers and importers to increase prices.

The Adansi Asokwa MP says the development is a “conspiracy of a cabal of cement producers and importers,” which should be condemned.

According to him, the government has provided the necessary enabling environment for cement producers to thrive, and as such, the recent upward review of prices has no basis.

“During the festivities, I learnt in the constituency that the cabal of the cement producers and importers have again conspired and decided to increase the prices of cement, by a considerable figure. I don’t think that, that is right. I do not accept that, that is right,” he said.

He wondered why these producers would increase their prices when the government has provided a conducive environment for them to operate.

“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.”

The seeming surge in the price of cement seems to be contrary to what Vice President Dr. Mahamudu Bawumia said in December 2023.

The flagbearer of the New Patriotic Party (NPP), Dr. Bawumia, on December 22, 2023, asserted that recent government measures have contributed to macroeconomic stability.

Highlighting specific economic achievements, Dr Bawumia said “What is remarkable is that prices of items that we normally buy are falling, cement prices are falling, fuel prices have fallen, cooking oil prices are falling, iron rod prices, rice prices are falling, maize prices are falling and this is telling us that something is happening because normally we see increases, but we are seeing a decline in pricing.”