A former Vice president of the Ghana Real Estate Developers Association (GREDA), Steven Debrah Abloberti has expressed strong support for the Minister of Trade and Industry\u2019s decision to introduce a Legislative Instrument (L.I.) to regulate cement pricing in the country.<\/strong><\/p>\nHe cited the recent surge in cement prices as his reason.<\/p>\n
\u201cCement prices have been increasing in recent days, which is derailing the businesses of practitioners and preventing them from planning effectively,\u201d he stated.<\/p>\n
He explained that the instability in cement pricing disrupts project timelines, often throwing 24-month projects off schedule.<\/p>\n
Mr. Abloberti also lauded the Trade Minister\u2019s efforts to stabilize cement prices and called for the inclusion of iron rods in the list of regulated products.<\/p>\n
\u201cThe unstable price of iron rods is also a significant challenge affecting the industry,\u201d he added, stressing the need for broader price stabilization measures to support the construction sector.<\/p>\n
In a related development, the President of the Ghana National Chamber of Commerce and Industry (GNCCI), Dr. Clement Osei Amoako, urged the Minister of Trade and Industry, K.T. Hammond, to reconsider the plans to control cement pricing.<\/p>\n
Speaking on Accra-based Joy FM on Friday, June 29, 2024, Dr. Amoako argued that price control is an outdated economic model unsuitable for the cement manufacturing industry.<\/p>\n
\u201cAs a country, we have moved past the era of controlling prices. I don\u2019t think that is the way to go,\u201d Dr. Amoako stated.<\/p>\n
He questioned the logic of determining the price of commodities produced by businesses that have made substantial investments.<\/p>\n
\u201cGhana operates a free-market system that allows market forces to determine prices, not the government,\u201d he stressed.<\/p>\n
Dr. Amoako highlighted the importance of adhering to the principles of a free-market economy, where demand and supply dictate pricing.<\/p>\n
\u201cWe have all come to accept that we are a free-market economy, and therefore, we should allow market forces to determine prices,\u201d he concluded.<\/p>\n
Source:\u00a0<\/strong>classfmonline.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
A former Vice president of the Ghana Real Estate Developers Association (GREDA), Steven Debrah Abloberti has expressed strong support for the Minister of Trade and Industry\u2019s decision to introduce a Legislative Instrument (L.I.) to regulate cement pricing in the country. He cited the recent surge in cement prices as his reason. \u201cCement prices have been […]<\/p>\n","protected":false},"author":1,"featured_media":194755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-195112","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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