By: Samuel B. Johnson
In a significant move to alleviate the economic burden on Liberians, President Joseph Nyuma Boakai, Sr., has signed Executive Order No. 150, suspending import tariffs on rice.
This decision aims to stabilize the price of the staple food and ensure affordability and accessibility for every Liberian. The Executive Order extends the provisions of Executive Order No. 125, which removed import tariffs on key rice categories.
The suspension of import tariffs applies to rice classified under two HS Codes: 1006.30.10.00 (semi-milled or wholly milled rice) and 1006.40.00.00 (broken rice). This measure takes immediate effect and is part of the government's broader strategy to promote food security, market stability, and economic relief for all citizens. By removing tariffs, the government hopes to reduce the financial stress on ordinary Liberians and maintain national food stability amid rising global economic pressures.
President Boakai's administration remains committed to taking practical steps to protect the purchasing power of Liberian households. The decision to suspend import tariffs on rice is a testament to the government's resolve to address the mounting pressures of the high cost of living. With this move, the government aims to ensure that Liberians can access rice at a more affordable price, thereby improving their overall well-being.
The Ministry of Commerce and Industry, the Liberia Revenue Authority, and all relevant agencies have been directed to ensure the full and timely implementation of Executive Order No. 150. This collaborative effort will guarantee that the benefits of the tariff suspension are passed on to consumers, providing relief to Liberian households. The government is confident that this measure will contribute to stabilizing the market and promoting economic growth.
The signing of Executive Order No. 150 is a significant step towards addressing the economic challenges facing Liberians. By prioritizing the welfare of its citizens, the government demonstrates its commitment to creating a more stable and prosperous economy. As the government continues to implement policies aimed at promoting economic growth and development, Liberians can expect to see positive changes in their daily lives.
The suspension of import tariffs on rice is expected to have a positive impact on the lives of Liberians, particularly those in low-income households who struggle to afford the staple food. With this move, the government has shown its willingness to listen to the concerns of its citizens and take concrete actions to address them. As Liberians look forward to a brighter economic future, the government's efforts to promote food security and economic stability will undoubtedly play a crucial role in shaping the country's development trajectory.
