GOL Deposits US$1m to Support Liberian Businesses

161

In fulfillment of President George Weah’s promise to ensure that Liberians do not remain spectators in their own economy, the Government of Liberia through the Ministry of Commerce and Industry Tuesday deposited an initial amount of one million United States dollars (US$1m) to support and improve Liberian-owned businesses.
Commerce Minister Wilson Tarpeh speaking when the Ministry officially launched a month-long nationwide inspection exercise across the country, stated that the amount is intended to provide capacity for local businesses to enable them come into the mainstream of the economy.
Meanwhile the ministry has signed an ordinance with the Liberia Water Producer Association (LWPA) to restrict ‘said business’ to only Liberians. “The step is taken to enforce the existing Liberianization Policy,” Minister Tarpeh said.
Apparently irritated, Minister Tarpeh revealed that the Ministry’s database shows that there are 500 water companies operating in Liberia with less than 150 registered and paying taxes to government’s revenues.
He threatened that the ministry will kick out such companies for not being in compliance with law and defrauding government of just revenues here.
Commenting on the nationwide inspection, he said, it is an effort to ensure goods and services in Liberia’s commerce meet minimum quality standards as established by law.
Writes Alex Yomah