Minister of Trade and Industry, K.T Hammond, has explained the rationale behind the government’s decision to suspend permits for the construction of new factories for manufacturing and bagging of Portland cement in the country will boost confidence within the local manufacturing sector.
According to him, the temporary ban was to eliminate uncertainties within the cement manufacturing sector.
He said this is also to create a coordinated mechanism for regulatory institutions to issue permits before the authorization of construction works. Speaking at the 2023 Association of Ghana Industries (AGI) Industrial Summit and Exhibition in Accra, K.T. Hammond, the Minister of Trade and Industry said the ban will eliminate uncertainties within the cement manufacturing space.
“The temporary measure has become necessary to streamline and put in place a coordinating mechanism for the issuance of permits by various regulatory institutions before construction is authorized,” he said.
He added, “this measure will help to remove uncertainties and enhance business confidence among current manufacturers as well as prospective new entrants.” Government through the Ministry of Trade and Industry suspended the granting of permits or authorization issuance for the construction of new factories meant for the manufacturing and bagging of cement products.
A statement issued and signed by Trade Minister Kobina Tahir Hammond on September 14, 2023, noted that all processes leading to the granting of such permits have also been suspended until further notice. The statement further called on regulatory institutions across the country to take note of this directive and comply with it accordingly.
The directive therefore meant that stakeholders engaged in the manufacturing and bagging of cement products in the country will no longer be granted the requisite permits to build new factories until further notice.