Accra: Minister of Roads and Highways Kwame Agbodza has urged cement producers and dealers to reduce their prices to reflect the current economic stability and gains made in the country. The Minister emphasised that the prices of cement had not responded to the gains made in the economy, unlike other commodities, and that this is unacceptable.
According to Ghana News Agency, Mr. Agbodza made these remarks on Thursday in Parliament House, in Accra, ahead of the Mid-Year Budget Review by the Minister of Finance. He also hinted that the government would take a second look at cement producers who refused to pass on the gains to consumers and would direct major government programs that used cement to favor producers who reduced their prices.
The Minister stated, 'If you are a cement seller today, you better look at the possibility of passing on the gains made in the economy in terms of your inputs so that prices of cement must come down.' He further added, 'We shall be more aligned with cement producers who are ready to pass on the gains made in the economy in terms of stability of the currency to consumers.'
The Minister's warning comes as the government prepares to roll out a road infrastructure project that will consume a large amount of cement. He emphasised that the government had the capacity to direct that cement be sourced from producers who reflect the current economic realities in their prices.
He concluded by asserting, 'We shall.have the capacity to direct that cement should not be sourced from sources that are not ready to reduce their prices to reflect the economic reality that we live in currently.'
The Mid-Year Budget Review to be presented by Dr. Casiel Ato Forson, the Minister of Finance, is in fulfillment of section 28 of the Public Financial Management Act, 2016 (Act 921).
