KT Hammond goes ‘wild’ over increase in cement prices

Cement manufacturers’ and importers’ decision to raise prices has been deemed concerning by Trade and Industry Minister KT Hammond.

The development, according to Adansi Asokwa MP, is a “conspiracy of a cabal of cement producers and importers,” and as such, it ought to be denounced.

He claims that since the government has created the favorable conditions needed for cement producers to prosper, there is no justification for the most recent price increase review.

“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.

KT Hammond goes wild over increase in cement prices

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 apparent increase in cement prices appears to be at odds with remarks made by Vice President Dr. Mahamudu Bawumia in December 2023.

On December 22, 2023, Dr. Bawumia, the flagbearer of the New Patriotic Party (NPP), claimed that macroeconomic stability had been aided by recent government initiatives.

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.”

Akosua Boatemaa

I'm Yours Truly, Blogger Akosua Boatemaa. I'm here to feed Your eyes and Ears with Authentic News Updates.

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