Kobina Tahir Hammond, Ghana’s Trade and Industry Minister, has asserted that there is a cabal of cement producers and importers that has been indiscriminately increasing cement prices to make life difficult for Ghanaians.
According to the Adansi Asokwa lawmaker, although the New Patriotic Party government has created a conducive environment for businesses, including cement producers, to thrive, the companies have turned their backs on the country.
During the festivities, I learned in the constituency that the cabal of cement producers and importers have again conspired and decided to increase the prices of cement by a considerable figure. I don’t think that is right. I do not accept that is right,” KT Hammond lamented, as quoted by citinewsroom.com.
“The government has provided the necessary ambiance 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 minister added.
His disclosure contradicts Vice President Dr Mahamudu Bawumia’s statement in December 2023 that recent government measures contributed to macroeconomic stability and a trend of reduction in commodity prices.
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,” Bawumia is quoted to have said.
Meanwhile, as prices of goods and services continue to skyrocket and worsen the lives of Ghanaians, the government has introduced several new taxes whose implementation would exacerbate the situation.
