The L.I. aims to set a maximum allowable retail price for cement
The proposed Legislative Instrument (L.I.) by Trade Minister K.T. Hammond includes stiff penalties, including up to three years of imprisonment for cement manufacturers who breach its regulations.
The L.I., dubbed 'The Ghana Standard Authority Pricing of Cement Regulations 2024,' aims to set a maximum allowable retail price for cement.
Hammond asserts that the move is to curb escalating prices and prevent exploitation by manufacturers.
However, the Cement Manufacturers Association of Ghana (CMAG) argues they were not consulted, criticizing the approach as ineffective and premature.
The L.I. specifies penalties for corporate directors, officers, and partners who violate the price ceiling.
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