Cement prices L.I a knee-jerk approach – Ohene Ntow

Former General Secretary of the New Patriotic Party (NPP), Nana Ohene Ntow, has criticised the Legislative Instrument (L.I) seeking to regulate cement prices.

The Special Advisor to independent presidential aspirant, Alan Kyerematen has said the L.I is a knee-jerk approach because it fails to tackle the underlying structural issues.
Acknowledging the escalating cement prices, Nana Ntow said there was a need for a broader economic structural challenge which must be addressed.
He has therefore urged the government to focus on these fundamental issues rather than short-term measures like price regulations.
“All the macroeconomic indicators have problems and so if you go and pick on cement it doesn’t solve the problem. I agree that the government can enforce the regulation, if it has to do with the law then the legal platform would have to be cleaned up.”
“But it is a knee-jerk reaction to the reality of the economic situation. If you are able to solve the cement pricing issues, then the next thing is iron rod, the next thing is roofing sheets, then what are you going to do?,” he said on Accra-based TV3.
The proposed L.I laid in Parliament by the Trade Minister, Kobina Tahir Hammond has been vehemently opposed by cement manufacturers.
They are insisting that further consultations on the factors driving cement prices must be conducted first.
In the midst of the controversies, the Speaker of Parliament, Alban Bagbin has advised the Minister to withdraw the L.I for extensive consultation.