18th May 2024 5:30:00 AM
2 mins readThe Minority in Parliament has dismissed the government’s directive to halt the increase in cement prices, calling it unrealistic and unlawful.
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This follows Trade and Industry Minister K.T. Hammond's instruction to cement manufacturers to halt price increases and publish retail prices to prevent arbitrary hikes.
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The Minority argues that this approach is misguided and will not yield the desired results.
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During a media engagement, Yusif Sulemana, Ranking Member of the Trade and Industry Committee, argued that the directive is infeasible without addressing root causes.
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Mr. Sulemana highlighted that cement manufacturers are already burdened with levies, including a fumigation levy, despite not receiving the corresponding service.
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He emphasized the need for government engagement with manufacturers to identify areas where taxes can be reduced and stimulus packages offered to support their business.
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“As we speak to you, cement manufacturers pay a levy on fumigation, fumigation levy but when their goods arrive, nobody fumigates it’s they pay for a service they do not benefit. And then you come to tell me to reduce the prices of my commodity,
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“I’ve never seen it anywhere. This is a competitive market, engage them and see where there’s a need that you the government can reduce some taxes. Where there’s a need for you to do certain things that will stimulate their business.”
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“You don’t sit in your office and issue a directive saying that they should reduce their prices. I can tell you on authority that this is not going anywhere. What law is he referring to? Is there any law that says a minister can sit in his office and issue a letter that reduces the prices of commodities?
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“It is only under this government we are seeing this. What we need to do is to sit with them and identify the root cause.”
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