The Cement Manufacturing Development Committee, a regulatory body overseeing cement manufacturers’ operations, has issued a stern warning to those who fail to comply with new pricing regulations outlined in the Trade Ministry’s Legislative Instrument (L.I.).
Committee Chairman Professor Alex Dodoo emphasized the committee’s resolve to enforce the ex-factory price requirements, stating that manufacturers could face license revocation for non-compliance.
In an interview on Joy FM’s Super Morning Show, Professor Dodoo underscored the severity of the consequences, noting that while retailers also have obligations under the new regulations, penalties for manufacturers failing to adhere to pricing guidelines would be more stringent.
The L.I., introduced to stabilize market prices and foster fair competition, recently underwent parliamentary scrutiny following objections from manufacturers. These objections primarily revolved around the potential impact on their profit margins and the feasibility of the proposed pricing mechanisms. Professor Dodoo expressed confidence that the legislation would introduce transparency into pricing mechanisms and maintain high standards across the cement sector.
“There are serious consequences. Manufacturing without a valid license will lead to trouble,” Professor Dodoo warned during the interview.
However, dissenting views were voiced by Minority member Ibrahim Murtala Mohammed, who criticized the lack of transparency surrounding supposed amendments to the L.I. Mohammed suggested alternative measures, such as a gradual implementation of the new pricing regulations, to address price hikes. He argued that the latest iteration of the legislation offered little deviation from its original form.
The standoff highlights ongoing tensions within the cement industry as stakeholders navigate regulatory frameworks to ensure market stability and quality control.
