Over Rice Importers Subsidy Payment Impasse: Gov’t Hammered Importer with LRD Millions
Published on: October 9, 2022.
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NEWS: Amidst continuing uncertainties over the availability of rice on the Liberian market due to several factors outlined by the rice importers during a recent meeting with the Legislature joint committee, especially disparities in the payment of subsidies promised by the government of Liberia, IPNEWS has gathered that the Weah-led administration has begun payment of major rice importers with millions of Liberian dollars.
Earlier, the importers had demanded that unless the government lives up to its pledge to pay them subsidies, they would not import a new consignment of rice.
According to impeachable sources tell IPNEWS that last week amidst visible scarcity of the commodity the Liberian government was forced to begin payment subsidies to some rice importers.
However, the move by the government to begin payment of subsidies to rice importers is laudable, yet the move might be just another ‘catch-22’ for major rice importers who really need United States Dollars to import the commodity.
A veteran Economist tells IPNEWS that the payment of such a huge quantity of Liberian Dollars to rice importers who actually need United States Dollars is another cause for concern for a possible inflation of the newly introduced Liberian banknotes and further delay rice imputer’s ability to source United States dollars on the black market.
Sources within the Ministry of Finance revealed to IPNEWS that checks were written to the central bank of Liberia (CBL) for payment in huge Liberian Dollars to the Rice importers last week.
