Cement manufacturers against pricing requirements provided by Trade Ministry in threat of revoked license

Cement manufacturers against pricing requirements provided by Trade Ministry in threat of revoked license

The is determined to take action against manufacturers who fail to comply with pricing requirements provided in the Trade Ministry's newly laid Legislative Instrument (L.I.).

In an interview on Joy FM's Super Morning Show on Wednesday, July 3, the Chairman of the Committee, Professor Alex Dodoo said licenses of defaulting manufacturers will be revoked.

“The pricing regulation focuses on ex-factory price. It takes away retailers who are also mandated to report but the sanctions on them are little. But for the manufacturers, your license can be revoked if you do not report,” he said.

The L.I, which aims to stabilise market prices and ensure fair competition was finally laid in Parliament on Tuesday following firm opposition from the manufacturers.

But Prof Dodoo believes the L.I will sanitise the sector, adding that he is pushing for transparency in pricing and quality.

“There is a strong stick. When you produce while you don't have a license to produce, you are in trouble.”

However, there is still a dissenting opinion from a member of the Minority, Ibrahim Murtala Mohammed. He claims amendments supposedly made to the L.I are yet to be seen.

According to him, there are better ways to deal with escalating prices than to regulate it.

“What was laid yesterday [Tuesday] was no different from what we know. If there is a proposed L.I which is 240 and there is some amendment, they would have indicated, so it is the same L.I laid yesterday [Tuesday],” he said.

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