If fuel suppliers and Liberia’s lone cement manufacturer, CEMENCO, stay faithful to their shared responsibility to the Liberian consumers, gasoline and cement prices are unlikely to increase any time soon.
This is due to the new Executive Order #31, which President Ellen Johnson signed Wednesday this week, suspending a US $2.00 protective tariff on a 50 kg bag of Portland cement and on petroleum products intended for use by schools and industries not ‘covered adequately’ by government subsidies.
The suspension of the protective tariff, which is contained in the Revenue Code of Tariff No. 25.23, was first imposed in the now spent Executive Order No. 9.
Its purpose was, as now reinforced by Executive Order 31, is to grant incentives to certain industries in the country, such as CEMENCO, to produce more cement to meet local demands as more and more citizens and residents embark on the struggle to reorder their lives.
The government said the measure is intended to mitigate the adverse effects from the global increase of certain commodity prices, including cement, which it said were occurring also at the disadvantage of the nation’s reconstruction efforts.