Are The Recent Price Hike on Building and Construction Materials Justifiable? – Edmund Kyei Questions Industry Players
It becomes worrying when prices of building materials are abnormally increased. And it has become necessary for government to engage stake holders in the industry so that government can regulate or have a say in their pricing because when prices of building materials are increased the cost of rent goes high. Statistically about 85% of the Ghanaian populace rent for shelter so when the cost of rent is higher it generally affects the entire population.
The most popular cement in the country is ghacem and in the year 2020 which is last year, price per bag of ghacem cement costed ghc33.00 and this year 2021 it costs ghc48.00 per bag. And last year 2020, the price of iron rod per ton was ghc3,500 and this year it has increased to ghc5,200 which is so outrageous.
Per my analysis on their cost of production, nothing has significantly changed since last year. There has not been any increment on electricity tariff, there has not been any significant increment on ports duties, the Dollar per cedi rate has been stable since last year and the increment on fuel per the analysis is insignificant to warrant these price hikes on building materials.
I humbly appeal to the government of Ghana to engage the necessary stake holders and industry players on building materials in order to moderate their pricing for the ordinary citizens to be relieved from their current burden.
Asokwa Constituency 1st Vice Chairman
Member of the NPP communication