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Chamber of Cement Manu\u00adfacturers, Ghana (COCMAG) has raised serious concerns about the newly-proposed Ghana Standards Authority\u2019s (Pricing of Cement) Regulations, 2024 (L.I.).<\/strong><\/p>\n The Chamber is of the strong conviction that while the Direc\u00adtor-General of the Ghana Stan\u00addards Authority (GSA), Prof. Alex Dodoo, and some within Parlia\u00adment portray the L.I. as a mecha\u00adnism to ensure transparency in the industry, it is an attempt at price control.<\/p>\n A statement issued in Accra by the Chamber said the crux of the issue lies in regulations 3(4), 3(5), and 3(6) of the L.I.<\/p>\n These provisions, it said, em\u00adpowered a government committee of scientists at the Ghana Stan\u00addards Authority to reject a cement producer\u2019s reported price without explanation or a chance to appeal.<\/p>\n Furthermore, it said produc\u00aders were prohibited from selling cement unless the committee ap\u00adproves their price. Non-compliance can lead to licence suspension.<\/p>\n \u201cWhile price transparency is a laudable goal, the proposed regu\u00adlations raise concerns about who wields the price control power. The price control committee (PCC) is composed primarily of six scientists, led by Prof. Dodoo, a pharmacist,\u201d the statement said.<\/p>\n It said, \u201cWhile their expertise in ensuring quality standards is undoubted, one wonders if a committee dominated by scientists possesses the nuanced understand\u00ading of market dynamics critical for setting a fair price for a complex commodity like cement. Can they effectively balance production costs, globally- and locally-traded inputs, and the long-term health of Ghana\u2019s cement industry, better than the free market?\u201d<\/p>\n The Chamber bemoaned the lack of consultation in the build-up to the drafting of the bill.<\/p>\n \u201cWhile some might suggest a meeting was planned, the facts paint a different picture. Cement companies were summoned via a last-minute WhatsApp message on a Sunday evening for a meeting the following morning, with no agenda provided,\u201d it said.<\/p>\n The statement said, \u201cUpon ar\u00adriving for the meeting, CEOs were surprised to find the media present, raising concerns about transpar\u00adency and potential media misrep\u00adresentation. Ultimately, the CEOs were informed that the minister was unavailable to meet them.\u201d<\/p>\n