Executive Secretary for Ghana Real Estate Developers (GREDA) has appealed to government to reduce taxes and duties on clinker, the major raw material used in manufacturing of cement in order to drive down the prices of the product.
Despite complaining about the impact of COVID-19 and Russia-Ukraine conflict on the prices of imports and other goods, the Nana Akufo-Addo government continues to maintain high taxes and duties.
Mr. Samuel Amegayibor believes the reluctance of government to touch taxes and duties on imports, goods and services in the wake of rising inflation and worsening exchange environment, would lead to companies winding up.
GREDA’s call for a review of taxes, duties and imports comes after cement producers announced that the product would now sell at ¢68 from Monday 15 August 2022 from ¢59.
In an interview with Sena Nombo on the Gold Morning Conversation, GREDA Executive Secretary Samuel Amegayibor said cement prices have been on the rise since 2020.
Samuel Amegayibor said the impending ¢9 increase in the price of cement is the worse they have seen.
He said government needed to act to ensure the increasing prices are dealt with before they collapse businesses.