\n
The Ghana Real Estate Developers Association says the legislative instrument aimed at regulating cement prices in the country was a step in the right direction.<\/p>\n
Trades and Industry Minister, KT Hammond, has pledged to disregard the petition from the Chamber of Cement Manufacturers to delay the implementation of a legislative instrument aimed at regulating cement prices.<\/p>\n
KT Hammond insists that the law is essential to prevent a cartel of manufacturers from exploiting the public.<\/p>\n
Under the proposed LI, cement manufacturers could face up to three years in jail for violations.<\/p>\n
According to the former Vice Chair of the Association, Dr Stephen Debrah-Ablormeti, the LI will help the association properly budget and execute projects without hitches.<\/p>\n
Speaking on Joy FM\u2019s Top story, he said \u201c It is an exciting one for us developers. It is exciting one for us because we have to grapple with cost of materials from a very short interval.<\/p>\n
\u201cFor instance, the last time cement price was increased in Ghana, it was just in May. It was increased by \u2026and then as of this morning we got a text message from the cement manufactures that effective first of July they are increasing it again by GH\u20b512.<\/p>\n
\u201cThe truth of the matter is that if you are on a project and it takes you 24 months to develop, giving the fact that cement contributes to about 70% of the building component, once the price of cement is increased, the price of block is increased, price of concrete is increased, price of plastering materials are all increased because it is the same ingredient that affects them in terms of their components.https:\/\/www.youtube.com\/embed\/e0M7jZHLLYw<\/p>\n
\u201cSo you realise\u00a0that you get on a project from\u00a0January, before December this project is already experiencing 30, 45% increase in cost,\u201d he added.<\/p>\n
Again, he said a bill of this nature will bring some sanity to the market and emphasised that \u201cWe strongly support the position of the honourable minister and with the backing of industry, we should be able to have some conversation that will be equitable for all on the market.\u201d<\/p>\n
Source<\/strong>:\u00a0Connielove Mawutornyo Dzodzegbe<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The Ghana Real Estate Developers Association says the legislative instrument aimed at regulating cement prices in the country was a step in the right direction. Trades and Industry Minister, KT Hammond, has pledged to disregard the petition from the Chamber of Cement Manufacturers to delay the implementation of a legislative instrument aimed at regulating cement […]<\/p>\n","protected":false},"author":1,"featured_media":194470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-194469","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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