Business News of Monday, 5 September 2016
Ekwow Spio-Garbrah, Minister of Trade & Industry, is said to be busily issuing cement licences to Chinese importers to import substandard cement even before a nine-member committee mandated by Parliament and the Trade Ministry to handle such matters meets on Tuesday, 6th September.
One of such permits sighted by BUSINESS GUIDE at the weekend and presented to Fujian Cement Company Limited in Accra, has authorised the Chinese company to import 500,000 metric tonnes of cement, which is more than the manufacturing capacity of the Bui Cement Factory in northern Ghana.
Dated 24th August, 2016, the licence would expire on 23rd August, 2017.
The Monitoring Committee was put in place to implement and enforce the provisions of the L.I. 2240; advise the Minister on matters in relation to the import of Portland Cement and related matters; make recommendations to the Minister on the pricing of Portland Cement; the quantities of Portland Cement to be imported for commercial purposes; and the local production of Portland Cement, among others.
In view of the foregoing, engaging in any deals before the committee meets is unwarranted.