KT Hammond Adamant About Passing L.I. To Regulate Cement Pricing Soon
- Trades and Industry Minister Kobin Hammond says he will not relent till his L.I. to regulate the price of cement is passed
- He said cement manufacturers have been wayward with pricing their goods, leading to high cement prices on the market
- He said after his directives to the manufacturers had failed he has been left with no other option than to to use parliament
Trades and Industry Minister Kobina Tahir Hammond says he intends to see to the laying and passage of a legislative instrument before parliament to regulate cement prices within 21 days.
The legislative instrument, dubbed the ‘The Ghana Standard Authority Pricing of Cement Regulations 2024,' seeks to impose a pricing ceiling on cement to curb the recent price hike.
Source: UGC
According to Alhaji Hammond, he has resorted to using the L.I. after talks with cement manufacturers to reduce their prices, which proved futile.
He said despite warnings that he would regulate the price of cement if nothing were done about the price hikes, cement manufacturers responded to his threats with mockery.
KT Hammond says he has since presented his L.I. to the Majority Leader, Alexander Afenyo Markin, to present before the House.
He believes the L.I. would be put before the House by Friday for deliberations.
Earlier, the Minority in Parliament had opposed laying the L.I. before the House, insisting that it go through pre-laying first.
However, Alexander Afenyo-Markin argued that the pre-laying of L.I.s and bills was not a constitutional mandate and that pre-laying could be forgone in urgent matters.
What is in the L.I?
Alhaji Hammond’s L.I. has proposed a maximum jail time of three years for persons who disregard the Ghana Standard Authority Pricing of Cement Regulations 2024 provisions to curb the wayward price hikes of cement.
It also sets a maximum allowable retail price for cement.
The L.I. also stipulates that if a provision is flouted, in the case of a corporate body, every director and officer within that institution is deemed to have committed an offence and would be charged accordingly.
In the case of a firm or partnership, every partner and those concerned with the firm's management would be deemed guilty of committing an offence.
Cement manufacturers oppose the bill
The Trade Minister says he intends to ignore petitions from cement manufacturers demanding that the L.I. be withdrawn to allow for broader consultation.
Cement manufacturers argue they were not consulted on the L.I. before taking it to parliament.
They argue that imposing a price ceiling on them is counterproductive as the leading cause of the price hikes is the fast-depreciating cedi against the dollar.
They have urged the minister to rescind.
KT Hammond requests he be addressed as Alhaji
YEN.com.gh reported that the Member of Parliament for Adansi-Asokwa, Kobina Tahir Hammond, has requested that parliament officially recognise his new title as Alhaji.
KT Hammond recently returned from a pilgrimage to the Islamic holy city of Mecca for the Hajj.
He requested that the parliament's official records should reflect his new title.
Proofread by Berlinda Entsie, journalist and copy editor at YEN.com.gh
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Source: YEN.com.gh
