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Wednesday, February 28, 2024

BOAKAI URGES EVERY LIBERIAN TO EMBRACE DOMESTIC RESOURCE MOBILIZATION AND TAKE PRIDE IN NATION’S RICHNESS

Date:

MONROVIA – Former Vice President Joe Boakai is a staunch advocate for the economic transformation of Liberia, emphasizing the importance of a thriving private sector in unlocking the country’s potential. He urges every Liberian to embrace domestic resource mobilization and take pride in their nation’s richness. To inspire this vision, watch Boakai’s video message here: https://youtu.be/gkBie9yNYJY?si=Cbqbs1Arnp3OAxDB

Central to Boakai’s leadership is the effort to liberate Liberians from monopolies in critical sectors such as rice, gas, and consumer goods importation. He envisions a prosperous nation built on genuine free-enterprise private capitalism, committed to dismantling monopolies and promoting fair competition.

One of Boakai’s proposed solutions to tackle monopolies is a 30% tax on distribution rights, drawing inspiration from successful models in countries like Senegal. This tax aims to curb monopolistic practices and serve as a cornerstone for domestic resource mobilization, enabling Liberia to showcase its wealth.

In particular, Boakai recognizes the detrimental impact of absolute monopolies in essential sectors, leading to inferior products and inflated prices for consumers. He advocates for opening these markets to fair competition, allowing private capital to flourish without monopolistic control, and upholding Liberia’s historical support for free-market enterprise.

Drawing parallels to U.S. President Theodore Roosevelt’s anti-monopoly efforts, Boakai aspires to become Liberia’s “monopoly buster,” following the path to prosperity and innovation through a free-market system.

However, Boakai also acknowledges the necessity of limited monopolies in certain areas such as utilities, railroads, and public-private partnerships in infrastructure, but emphasizes the need for strict regulation to protect Liberian consumers.

Boakai’s comprehensive approach tackles economic principles and sector-specific challenges, aimed at ensuring fair access to essential goods. The 30% tax on distribution rights is a strategic tool for promoting fair competition and contributing to domestic resource mobilization, critical for Liberia’s economic transformation.

Join Joe Boakai in championing a new economic order characterized by a free-market system and advocating against monopolies, which he believes can breed corruption and incompetence.

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Smart News Liberia is an online news outlet, a product of Smart Media Group Inc. smartnewsliberia.com publishes a wide range of content including politics, business, sports, and entertainment on and about Liberia. Contact: +231777425285/ 886946925 Email: info@smartnewsliberia.com/ smartnewsliberia@gmail.com

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