The Ministry of Trade and Industry has announced plans to set up a committee to spearhead the drafting of policies to regulate the country’s cement industry.

The Ministry said the policy has become necessary to ensure regulation of their activities and help develop a better cement production industry.

Deputy Trade and Industry Minister, Michael Okyere Baafi, who briefed the media on the government’s plans in Koforidua said the “government is also working with the cement manufacturers in the area of regulation of cement and even the development of the cement business in Ghana. The cement business is not regulated.”

According to him, “We met them, the cement manufacturers, last week. We are going to set up a committee; a committee that will comprise the members of the Ministry of Trade and Industry,” the Deputy Minister added.

The Chamber of Cement Manufacturers, Ghana protested the reduction in benchmark value from 50 percent to 30 percent by the government saying it will result in high production costs and affect cement prices.

According to the Chamber, the local cement industry is already suffering from high production costs as a result of the increase in the cost of limestone, clinker, duties, transport/fuel increase, springing up of new cement factories, and instability of the cedi against the major currencies.

Regulating the activities of scrap dealers

The Deputy Minister also disclosed that the ministry is on the verge of developing a policy document for scrap dealers in the country.

He explained that “We will also be meeting scrap dealers on two issues, to also set a committee to start the discussions in the area of scraps. We have realized that most of them are now targeting scraps because there is no proper regulation, there is no policy, anybody at all can run in town when they see iron rods anywhere, they take it away”.

“This is not right, so we need to have policies to regulate it on what to do and what not to do, so we are working with them” he added.