“Ghana’s Business Sector Under Threat: IEAG Calls for Rejection of Proposed Legislative Instrument”
The Importers and Exporters Association of Ghana (IEAG) is urging Parliament to reject a proposed legislative instrument (LI) by the Trade Minister, K.T. Hammond, seeking to regulate cement prices in Ghana. The IEAG believes the LI threatens the survival of cement manufacturing businesses, lacks transparency and inclusivity, and fails to address the root causes of price escalation, such as the depreciation of the Ghanaian cedi against the US dollar.
The association argues that the proposed LI is a unilateral decision that disregards the input of stakeholders, including cement manufacturers and importers/exporters. They warn that the LI will lead to unfair market practices, hurt the cement sector, and increase production costs, which will be passed on to consumers.
The IEAG is calling on Parliament to reject the LI and direct the Trade Minister to engage with stakeholders to find a collective solution to address cement price escalation and cedi depreciation. They believe a holistic approach, considering the inputs of all stakeholders, is necessary to create a fair and transparent trading environment.
In summary, the IEAG is urging Parliament to:
1. Reject the proposed LI seeking to regulate cement prices.
2. Direct the Trade Minister to engage with stakeholders, including cement manufacturers and importers/exporters.
3. Find a collective solution to address cement price escalation and cedi depreciation.
The association believes this approach will promote fairness, transparency, and inclusivity in the sector, ensuring a holistic trading environment for all stakeholders.
