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Politics News

Piracy affects revenue increase

Deputy Commerce Minister for Administration Mr. Wilfred J. Bangura piracy is affecting increase in revenues generation here, stressing the need for government to put measures into place to stop the act.

Mr. Bangura made the statement in a keynote speech over the weekend during the observance of World Intellectual Property (IP) Day at the YMCA on Crown Hill.

According to Minister Bangura, piracy needs to be addressed to enable government to generate revenues for national development. He says the celebration must be a day of reflection to enhance [intellectual] property rights in Liberia.

According to him, government has formulated copyrights property laws for the protection of intellectual property rights owners. He says the implementation of these laws, and the needed regulation will enhance the intellectual property rights innovation.

He says piracy is a problem in Liberia does not only affects intellectual property rights, but also government revenues increment, among others. He notes that some pirated goods especially pharmaceutical products and other regional materials affect Liberians.

He says to achieve the goals of fighting against piracy, there is a need for collaborating and cooperating, between line ministries and agencies of government for the protection of intellectual property rights.

He names the Ministry of Justice, the Ministry of Finance and Development Planning, Liberia Revenue Authority, Ministry of Labour, Ministry of Information, and the Ministry of Commerce and Industry as government institutions that need to collaborate to enhance the process.

Mr. Bangura suggests that once these groups come together, they must design strategic activities on intellectual property rights. He also stresses a need for various stakeholders of the national collective society including musicians, fine arts, producers, cultural artist and writer association to work alongside LIPO to combat piracy and infringement from Liberia.

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By Lewis S. Teh–Edited by Winston W. Parley

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