Government, through the Ministry of Trade and Industry, has banned further issuance of permits to companies that want to set up cement processing plants in the country.
The move by the Ministry, according to Deputy Trade Minister, Carlos Kingsley Ahenkorah, is to help protect and encourage the growth of existing cement processing companies in the country.
- Some top journalists in the pockets of EC over new register – Asiedu Nketia alleges [Audio]
- Cargo truck falls at Moree tollbooth [watch]
- Just in: Sammy Gyamfi picked up by CID
Speaking at the Customer Awards Dinner of CIMAF Ghana Limited, a cement manufacturer located in the Free Zone Enclave in Tema, Mr Ahenkorah said the ban is to support the eight cement manufacturing companies operating in Ghana.
Delivering the good news to the eight cement manufacturers, Mr Ahenkorah, however, cautioned against manufacturers forming a cartel to sell cement products at unreasonable prices as the government will not hesitate to open the floodgates for imports to compete with the local manufacturers.
- Gov’t reacts to recent Corruption Perception Index report
- Coronavirus: Companies tell workers ‘stay at home’
- Kobe Bryant’s death: Check out Which Ghanaian celebs are reacting
“The actions we have adopted will be in place for a very long time, except when the manufacturers decide to turn themselves into cartels to sabotage it. This is because cement forms an integral part of the economic growth and development in Ghana and so, if you decide to increase prices of your product, it can change the political fortunes of a political party,” he said.
“So, we will not allow manufacturers to run away with the prices of the product. When you do that without consulting us, we will also open the floodgates for import to come in to compete with you,” he added.
- Exclusive: Hearts v Kotoko match in photos
- Revealed: Why Songne Yacouba was dropped by Kotoko ahead of Hearts clash
The eight cement manufacturers protected by the ban are Ghacem Limited, CIMAF Ghana Limited, Diamond Cement Group, Dangote Cement Ghana Limited, CBI Ghana Limited, Wan Heng Ghana Limited, Xin Ann Safe Cement Limited and Pozzolana Ghana Limited.