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Tuesday, June 18, 2024

Liberia: President Boakai Suspends Rice Import Tariffs to Alleviate Financial Burdens On Liberians

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Monrovia — President Joseph Boakai has issued Govt Order 125 suspending import tariffs on rice in a bid to alleviate financial burdens on Liberians.

This, in response to the Govt Order, is in recognition of rice being the nation’s staple meals, therefore the necessity to make it inexpensive to each Liberian.

At present, a 25kg of damaged rice is bought for US$20 because the retail worth.

Liberia, closely reliant on imported rice, faces a urgent challenge as assessments and evaluations by the federal government reveal a steady improve within the worth of rice for the foreseeable future. This surge in rice costs threatens to exacerbate the financial burden on residents and residents inside the nation’s borders.

Below the phrases of Govt Order #125, the import tariff on rice categorised underneath HS Codes 1006.30.10.00 (semi-milled or wholly milled rice, whether or not polished or glazed and in packings of greater than 5kg or in bulk) and 1006.40.00.00 (damaged rice) underneath the Income Code of Liberia Act 2000 is suspended with rapid impact.

The target of this measure is to ease the financial burden on residents, preserve stability, and make sure the marketability and accessibility of rice. By suspending import tariffs, the federal government goals to offset the growing excessive value of rice.


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