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0 Consumer advocacy groups are cautioning the government against its firm stance on regulating cement pricing, citing concerns that such measures could deter potential investors from entering the industry.
They urge the government to instead implement robust policies aimed at attracting investors to the cement sector, addressing issues such as the depreciation of the cedi.
This call follows criticism from the Ministry of Trade and Industry directed at Cement Manufacturers in Ghana over their petition to withdraw a proposal for cement price regulation.
The West African Regional Director of the consumer advocacy group, Cuts International, Appiah Kusi Adomako, highlighted these concerns on the Citi Breakfast Show.
“In this democratic dispensation, it will be very bad for the government to say that look we want to regulate prices. And when you do that, it will send signals to potential investors to other industries because whoever is coming to invest in your market, will be concerned that look if there is any chance that the government regulates prices then I will not even come to the country to operate so the firefighting approach is not the best”.
“Let us look at the key factors, and we know that the cedi dollar is a factor. Cost of electricity is also a factor and so if Public Utilities Regulatory Commission (PURC) reviews tariffs every quarter, and the production prices are going up, we need to see how we can stabilize the cedi,” Appiah Kusi noted.
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