The Liberian Senate's plenary has voted to establish a National Board for Rubber to ensure an equitable determination of the monthly price of rubber.
Monrovia — The Liberia n Senate's plenary has voted to establish a National Board for Rubber to ensure an equitable determination of the monthly price of rubber.
Before the vote, the Senate Committee had recommended to the Plenary the establishment of a board that would be responsible to oversee and regulate the prices of rubber on the Liberian market. Pending the establishment of the proposed National Rubber Board, the Senate Plenary agreed to maintain the current moratorium on the export of unprocessed rubber.
His successor, President Joseph Nyumah Boakai, after months in office, stated that the moratorium became necessary until appropriate policies and frameworks could be put in place to improve the rubber industry's situation in the longer term, ensuring redevelopment, new development, increased production, increased job opportunities, and increased government revenue.
Executive Order 124 aims to curb abuse and theft within the rubber industry. However, some stakeholders have argued that the policy negatively impacts smallholder rubber farmers and brokers who rely on trading unprocessed rubber. Chaired by River-Cess County Senator Wellington Geevon Smith, the committed has suggested that some rubber planters had raised concerns about the capacity to handle unprocessed rubber and the potential reduction in workforce if the moratorium remains in place. The report further detailed concerns about tax remittances from small rubber farmers not reaching government accounts.
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