Ghana: Trade Ministry to set up committee to pursue regulation of cement industry

The Ministry of Trade and Industry says it will set up a committee to spearhead the drafting of policies to regulate the country’s cement industry.

According to the Ministry, the meeting has become necessary to ensure regulation of their activities and help develop a better cement production industry.

A Deputy Trade and Industry Minister, Michael Okyere Baafi, briefed the media on the government’s plans in Koforidua.

He said the “government is also working with the cement manufacturers in the area of regulation of cement and even the development of the cement business in Ghana. The cement business is not regulated.”

“We met them, the cement manufacturers, last week. We are going to set up a committee; a committee that will comprise the members of the Ministry of Trade and Industry,” the Deputy Minister added.

The Chamber of Cement Manufacturers, Ghana protested the reduction in benchmark value from 50 percent to 30 percent by the government saying it will result in high production cost and affect cement prices.

According to the Chamber, the local cement industry is already suffering from high production cost as a result of the increase in the cost of limestone, clinker, duties, transport/fuel increase, springing up of new cement factories and instability of the cedi against the major currencies with the dollar.

Original story on CitiNewsroom

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