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Tuesday, May 28, 2024

PRESIDENT BOAKAI’S EXECUTIVE ORDER SUSPENDS PETROLEUM SURCHARGE TO EASE FINANCIAL STRAIN ON LIBERIAN CITIZENS

Date:

MONROVIA, LIBERIA – President Boakai has taken a significant step to alleviate the financial burden on Liberian citizens by suspending a $0.20 surcharge on the petroleum pricing structure through an Executive Order, numbered 128, issued on March 21, 2024. This decision reflects the government’s commitment to reducing the cost of living for its people.

The President’s action is driven by the belief that decreasing petroleum costs will have a cascading positive effect on the economy. It is anticipated that this move will lower the prices of goods and services, boost productivity and business profitability, and result in increased government revenue.

Under the provisions of the Liberian Constitution, the President has the authority to issue Executive Orders in the interest of the public good to tackle pressing issues crucial to the country’s advancement. This decision underscores the government’s dedication to addressing economic challenges and enhancing the overall well-being of its citizens.

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