ON THE GROUNDS OF THE Capitol Building, they presented their plights enshrined in a petition to members of the Legislature, decrying the high economic cost of doing business in the country.
THEY COMPLAINED ABOUT THE prevailing economic condition in the country, the levying of taxes by the government, the extortion at the hands of employees of the National Port Authority, Liberia Revenue Authority Ministry of Commerce and the Ministry of Finance of Development Planning.
THEY ALSO COMPLAINED about the lack of support by the government to Liberian-owned businesses, including the sidelining of most of them from contracts being dished by the government of the day.
THE SUDDEN SPIKE IN TAXES the change in the revenue code which was passed at a 4G speed and meant more taxes at a disadvantageous level to them was amongst the litany of reasons the Patriotic Entrepreneurs of Liberia (PATEL) held the economy hostage for three consecutive days.
PATEL EXECUTIVE DIRECTOR PRINCE HOWARD, at the time, said the protest at the grounds of the Capitol is to allow the Legislature address several issues ranging from the imposition of high tariffs on goods imported in Liberia, the constant inflations of the United States dollars rate, and the police constant harassment of petty traders.
THE CONCERNS WERE NOT MET AND the second protest which they planned was ill-fated as many business owners opened their stores on the days the protest was planned for.
NOW, BY A STRANGE TWIST of fate, an investment incentive act has been sent to the Capitol Building, the very grounds on which PATEL stood pleading to deaf ears for the taxes to be reduced in order for them to thrive.
THE MYSTIQUE OF THIS ACT IS THAT it seeks to give the Farmington Hotel a 30-year tax break, meaning that for the next thirty years, they, like many of the mining companies in Liberia, wouldn’t get to pay a dime to the Government of Liberia.
“WOW! GREAT INITIATIVE by the House! But, what about the few Liberian owned hotels, restaurants, artists, and entrepreneurs operating in the same hospitality sector? I never heard any Representative or Senator advocates for us with such passion, conviction, and understanding of the prevailing economic conditions,” stated Amin Modad in a Facebook post.
MODAD IS THE CEO Of Bella Casa Hotel and Atlantic Foods.
STATED MODAD: “DON’T get me wrong, I am a proponent of encouraging foreign investments; however, I am of an even greater conviction that if Liberian entrepreneurs can be given the incentives and encouragement to forge ahead competitively, the economy and society will benefit far more.
“SOME OF US WHO DO HAVE incentives fought for them on our own; in fact, we are still fighting to maintain them and bring them up to par with the larger foreign-owned hotels that might have better lobbyists. Liberians need their Representatives to be proactive for them too.
“LIBERIAN ENTREPRENEURS (not only in the hospitality sector) are disenfranchised because the institutions and people who should support their growth and ability to compete with their foreign counterparts are not doing so.
“THUS, THE PLAYING FIELD becomes perpetually lopsided (against us). I’ve invested more than US$3.5M in the hospitality sector by taking high interests-poor termed loans. Come rain or shine, I’m paying US$ 24,000.00 per month on these loans while still paying my taxes. I challenge this House Committee to look into our needs and those of other Liberian owned enterprises that are struggling to survive…”
UNFAIR FAVORS TO FOREIGN-OWNED businesses have to come to a halt. Beginning with Firestone in 1926 till present, the granting of undue favors to these non-Liberian Liberian businesses has continued to see Liberians become hewers of wood and drawers of water in their own country. This is certainly not the kind of policy Liberia needs.
WE COULDN’T HAVE AGREED with Mr. Modad any better. If Liberian owned business must go forward, it begins and ends with the empowering of Liberian businessmen and women.