The Ministry of Trade and Industry has signed a Memorandum of Understanding (MoU) between the Government of Ghana, and the Chamber of Cement Manufacturers, Ghana (COCMAG) to stabilize prices of cement in the country.
The price of the commodity is unstable in the market, sending fears into users of the product anytime there is a change in the cost.
Many of the producers in past, have attributed high cost of production to the rise in the prices of the product and other byproducts in the value chain.
However, government seems to be taking steps to bring some sanity and stabilization in the market, in order to cushion the citizenry on the face of harsh economic conditions.
The MoU is a collaborative effort between the parties, with a view of strengthening the relationship between the government and COCMAG to resolve sensitive issues surrounding the production and sales of cement in relation to the economy.
The objective of this collaboration between the stakeholders is to ensure price stabilization in the Cement industry in the face of rising cost of goods and services in the country, as well as high cost of living.
Deputy Minister of Trade and Industry Nana Ama Dokuas Asiamah-Adjei signed on behalf of the Ministry of Trade and Industry, whilst Frederic Albrecht signed on behalf of COCMAG.
Subsequent to the signing of the MoU, she had a round table discussion with the heads of the Environmental Protection Agency (EPA), the Ghana Standards Authority, Ghana Ports and Harbors Authority and the Customs Division of the Ghana Revenue Authority, and representatives from the Chamber of Cement Manufacturers, Ghana.
The meeting was to discuss strategic issues centred on all aspects of local cement production, sales and pricing.
According to her, the Ministry of Trade and Industry resolves to ensure compliance in accordance with Government’s initiative through the Ghana International Trade Commission (GITC) which seeks to address unfair trade practices within the local industries including the cement industry.
She however promised that soon, the consumers will start ripping the fruits of the MoU when it fully comes into force.
