President George Manneh Weah writes plenary of the Liberian Senate, revoking five financial bills submitted to that body by former President Ellen Johnson Sirleaf during her tenure.
A presidential communication dated May 7, 2018, which was read in plenary Thursday, 10 May under the signature of President Weah states; “I am pleased to recall these five bills pending investment incentives and concession agreements currently before your honorable body for ratification.”
The bills include Dangote Cement Liberia Ltd, TIDFORE (LICEMCO), Nimba Rubber Incorporated, Liberia Traffic Management and the Amendment to the Amended Firestone Agreement.
The agreements were recently reviewed by the Special Presidential Concession Review Committee to ascertain whether they are in compliance with procedural and substantive requirements of Liberian law, and to evaluate their justifications, including benefits to the Liberian people and the nation for tax and other incentives grant.
The letter from President Weah details that following the review process, several legal requirements in these agreements were not fully adhered, citing that several provisions of the amended Public Procurement and Concession Act of 2010 were violated.
It notes that all categories of tax relief including; import, GST, turnover, presumptive fuel and gasoline, withholding on interest, dividends and third parties services, among others, were either partially or granted to the concession without any showing of measureable benefits to the country and its citizens.
According to President Weah, most of the agreements seem not to have been meticulously prepared, as there are a number of avoidable types and misinformation, while exhibits referenced in the agreements were not attached.
“In consideration of the foregoing, I hereby recall these agreements from the Liberian Legislature for reassessments by the National Investment Commission to enable them meet fully the procedural and substantives, as well as value for money for the benefit of the Liberian people before possible resubmission to the legislature,” the letter concludes.
By E. J. Nathaniel Daygbor-Editing by Jonathan Browne