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Commerce Ministry ready to enforce business regulations, fines business Corporation

Moses Garzeawu/Maximilian K.Kasseh, Jr.
Commerce Minister Wilson Tarpeh
Commerce Minister Wilson Tarpeh

MONROVIA, LIBERIA-The Liberian Government has fined Fouami Brothers Corporation Twenty-five-thousand United States Dollars for recently hiking the price of eggs on the Liberian Market.

Commerce Minister Wilson Tarpeh has described the action by Fouami Brothers Corporation as willful, deliberate and blatant violation of Section 5.1 of the Competition Law of 2016.

The discovery was made during one of the Ministry’s routine robust inspection tours of business houses in Monrovia.

Making the disclosure Tuesday, February 27, 2018, Commerce Minister Tarpeh said the Corporation hiked the price of eggs from thirty-five United States Dollars and eighty-five-cents to seventy United Dollars per carton.

Minister Tarpeh said the Corporation was found guilty of the commission of the act after verifying the Import Permit Declaration (IPD),Suppliers and Sales Invoices, Custom Payment, Port Charges among others.

The Commerce Boss ordered that the Corporation pays into government’s account through the Liberia Revenue Authority (LRA) within 72 hours.

He warned:” While the CDC-led Government stands ready to support and encourage private investments, it will not accept attempts by any business entity to conduct itself in an unlawful and inappropriate manner.”

Minister Tarpeh emphasized that such unlawful act undermines the orderliness of commerce and trade, and brings unwarranted hardship to citizenry, especially the consuming public.

 


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