Price controls could lead to black market activities
The Minority in Parliament has strongly opposed the proposed Legislative Instrument (LI) by Trade and Industry Minister K.T. Hammond to regulate cement pricing in Ghana.
Bernard Ahiafor, Minority Spokesperson on Legal and Constitutional Affairs, argued that the regulation contradicts the Parent Act, which mandates the Ghana Standards Authority (GSA) to set quality standards for all goods and services, not control prices.
Ahiafor highlighted that cement pricing should reflect raw material costs, currency depreciation, and transportation expenses.
He warned that price controls could lead to black market activities and inefficiencies, advocating instead for comprehensive economic measures to manage costs.
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