The IMANI Center for Policy and Education has cautioned against the use of a legislative instrument to compel price regulation in the cement industry, citing significant legal and practical challenges.
In a letter addressed to the Majority Leader of Parliament, Alexander Kwamena Afenyo-Markin, and copied to the Minister of Trade and Industry and members of Parliament, IMANI noted that such a move would violate Ghana’s international trade agreements and constitutional rights, and could lead to market distortions, legal challenges, and unintended economic consequences.
“Using a legislative instrument to impose price stability overlooks the forces of nature and may cause distortions in the market,” the letter signed by IMANI’s Founder and President Franklin Cudjoe stated.
He added that “price regulations could be seen by investors as risky, which would impede the flow of cash and technological developments.”
IMANI recommended alternative approaches, including promoting competition, providing subsidies and incentives, and enhancing regulatory frameworks to ensure fair practices.
“Let us allow market forces to determine prices while exploring other measures to achieve price stability and affordability for consumers,” Mr. Cudjoe urged.
The letter was addressed to the Majority Leader of Parliament, Alexander Kwamena Afenyo-Markin, and copied to the Minister of Trade and Industry and members of Parliament.
Click here to read IMANI Center for Policy and Education’s full letter
