Chiwitey Urges Trade Minister to Address Cement Prices Through Tax Reduction, Not Regulation

Accra, Ghana – Honorable Andrew Dari Chiwitey, a prominent Member of Parliament for Sawla-Tuna-Kalba, has called on the Trade Minister, Kobina Tahir Hammond, well known as KT Hammond, to rethink the approach to addressing high cement prices. Instead of regulating prices, Chiwitey advocates for reducing taxes on cement materials and working with manufacturers to decrease prices.

His comments come as the government considers introducing a Legislative Instrument (L.I.) to regulate cement prices. However, Chiwitey believes this approach is misguided and urged the minister to engage stakeholders to understand the industry’s dynamics.

“The current system doesn’t allow for effective price regulation,” Chiwitey explained. “Rather than imposing controls, reduce taxes on cement materials and work with manufacturers to decrease prices. This will benefit consumers and stimulate economic growth”, he told Odehyieba Yaw Anokye on HB Morning Show.

The Sawla-Tuna-Kalba legislator specifically highlighted the need to scrap unnecessary taxes and duties, which contribute to high cement prices. “Bawumia should prioritize tax reduction before considering regulation. This will create a more favorable business environment and lead to more affordable cement for Ghanaians.”

The Trade Minister’s efforts to introduce the L.I. have been met with resistance from stakeholders, who argue that it fails to address the root causes of high prices. Chiwitey’s intervention adds weight to these concerns, emphasizing the need for a more collaborative approach.

“KT must adopt a more persuasive approach, engaging stakeholders to understand the industry’s complexities,” Chiwitey said. “Only through dialogue and cooperation can we find a solution that benefits all parties involved.”

As the debate surrounding cement prices continues, Chiwitey’s call for tax reduction and stakeholder engagement has sparked hope for a more effective and sustainable solution. The government’s next move will be closely watched, as the nation seeks a balance between economic growth and consumer affordability.