The Consumer Protection Agency (CPA) wants producers of cement to go beyond announcing the reduction of cement prices and ensure retailers roll out the new rates.
This comes after GHACEM Cement and Dangote Cement Ghana limited reduced the price of their products attributing it to the cedi’s stability against the dollar and other foreign trading currencies.
Dangote Cement reduced the price by 2cedis 70 pesewas while GHACEM Cement reduced its price by 2 cedis.
The increase of cement according to producers went up as a result of the continuous depreciation of the cedi against the major international currencies, as well as high demurrage charges at the country’s ports of entry.
Prices of cement also increased drastically during the second quarter of 2014 due to erratic power supply by the utility providers.
Chief Executive Officer at the Consumer Protection Agency (CPA) Kofi Kapito tells Citi Business News cement producers should ensure that they have accredited outlets across the country who will be directed to sell their products at the price approved by them.
“It is good that cement producers have come out with this wonderful announcement, what I want them to do is to tell Ghanaians that aunty Ama is not my authorized dealer but Kwame Boateng is my authorized dealer who is expected to sell cement at a price determined by the producers. Such that if Kwame Boateng sells at price higher than has been determined by the producer then the customer can report to the producers.”
By: Norvan Acquah-Hayford/citifmonline.com/Ghana