Trade and Industry Minister K.T. Hammond has confidently stated that efforts to prevent the Legislative Instrument (L.I.) for regulating cement pricing will ultimately fail.

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Introduced to Parliament on Tuesday, July 9, by K.T. Hammond, the L.I. has encountered significant resistance from cement manufacturers.

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During a recent stakeholder meeting with the Ghana Chamber of Construction Industry, Hammond disclosed that attempts to block the L.I. from becoming law were underway. He emphasized that such attempts would not be successful.

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Hammond stressed that the L.I. aims to address excessive profiteering by some cement producers and promote greater transparency in cement pricing within the country.

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“Those who are not happy with it, they themselves and their agents are going all over the place asking some leading Members of Parliament to ensure that it is blocked. It is an exercise in futility. You can’t do that. When it is laid, it is laid.

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“What is important that I want you to take away from here is that the L.I does not seek to control prices. It doesn’t control. We can only continue to use the word regulation.

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“I think we have taken some trouble to explain what we mean by regulation… to get the perfect balance between the two – the production end and the purchase end,” K.T Hammond said.

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