Prof. Lord Mensah, a renowned economist, has expressed his reservations about the government’s decision to regulate the price of cement. Apexnewsgh reports
While acknowledging that the move may be well-intentioned, he believes it may have unintended consequences that could harm the economy.
According to Prof. Mensah, fixing cement prices could lead to difficulties for cement producers, potentially forcing them out of business. He emphasized the need to understand the inputs that constitute cement production, such as raw materials, labor, and foreign exchange, which are critical to determining the final cost of cement.
The professor argued that instead of fixing prices, the government should focus on addressing the underlying economic fundamentals, such as stabilizing the foreign exchange rate and managing inflation. He suggested that if the government wants to regulate prices, it should only do so when the cement producer increases prices unfairly, and not solely based on exchange rate fluctuations.
Meanwhile, Prof. Lord Mensah cautioned that the government’s plan to regulate cement prices may not be the most effective solution and could lead to unintended consequences. He advocated for a more nuanced approach that considers the underlying economic factors driving cement prices.
Source: Apexnewsgh.com
Thanks for reading from Apexnewsgh as a news publishing website from Ghana. We encourage you to freely share this story via social media platform and follow us on; Facebook on APEXNEWSGH-Tv or Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0248250270/0256336062.
