By Ragan M. Conteh

In response to the sharp increase in cement prices across the country, the Parliamentary Oversight Committees on Trade and Industry, Finance and Transparency and Accountability has held an emergency joint meeting with key stakeholders in the cement industry.

The meeting, chaired by Hon. Veronica Kadie Sesay, aimed to address the price surge, examine its causes, and explore solutions to stabilize the market.

Hon. Veronica Kadie Sesay emphasized that Parliament plays a crucial role in ensuring price stability for essential commodities, including cement. She warned that uncontrolled price hikes could lead to public dissatisfaction and damage both government’s credibility and the business sector.

“We are all in this together. If the market is unstable, the people will cry out, and Parliament will be held accountable,” she said. She further stated that while challenges exist, all stakeholders must collaborate to find solutions that work for both businesses and consumers.

Deputy Minister of Trade and Industry, Fatmata Wurie, detailed the government’s initiatives to stabilize cement prices.

She confirmed the introduction of a pricing formula to regulate costs and ensure fair pricing across the country.

“We have engaged importers, transporters, and other stakeholders to agree on a fair pricing structure. The government is committed to supporting local production while also ensuring that imported cement remains affordable,” she stated.

The Ministry of Trade outlined the agreed pricing structure for cement across different regions. In Western Urban and Rural Areas, imported cement is set at Le 170 per bag, while in Makeni, the price is Le 176, and in Kenema and Kono, it is Le179. Local cement producers, such as Leocem and MACCEM, will sell at lower prices to encourage local production.

Speaking on behalf of cement importers, Ahmed Mackie, General Manager of MACCEM, highlighted the rising cost of cement globally. He explained that previously, Sierra Leone imported cement from Turkey, but due to increasing costs, suppliers shifted to Egypt. Despite these challenges, Mackie urged the government to delay tax increases on cement imports to allow businesses to adjust.

“We request a grace period until the end of the year before new tax policies take effect. This will help us stabilize supply and keep prices affordable for consumers,” he appealed.

Leocem’s General Manager also raised concerns about frequent power outages, which disrupt production and increase costs.

Parliamentarians urged businesses and the government to work together to prevent further price hikes. Hon. Maada Lebbie, Chairman of the Transparency Committee, stressed the importance of competition in the market.

“Let’s create a level playing field for all investors. We support local content, but we must also ensure a competitive market to benefit consumers,” he said.

Hon. Sesay further cautioned cement companies against unilateral price increases, stating that Parliament will monitor the situation closely.

The government and cement stakeholders agreed to continue dialogue and implement the agreed pricing structure. The Ministry of Trade will also explore incentives to support local production and reduce dependency on imports.

Meanwhile, Parliament has vowed to hold further hearings if prices remain unstable as a way to ensure accountability in the sector.