President George Weah has issued an Executive Order that exempts the Liberia Electricity Corporation (LEC) from Customs duty, GST on generation, transmission, and distribution equipment, material, and fuel.
Executive Order #104, as it is framed and styled, seeks to reactivate Executive Order #9 that has expired since.
In an Executive Mansion release, President Weah said the Executive Order was in the interest of national reconstruction and development.
The President maintains that the Executive Order is imperative because the LEC, during its transition from the use of fossil fuel to hydro-electricity, faces external market forces and risks that increase the costs of operations of the entity.
President Weah said there is still a need to minimize the cost of fuel to enable the LEC to provide electricity to the general public at a reasonable cost.
He said some of the costs, which are associated with purchases, delivery, storage, and use of fossil fuel, particularly Heavy Fuel Oils (HFO), represent a significant expense to LEC which slow investments in the transition to the wider use of hydroelectric power in Liberia.
President Weah also said that it is necessary for the LEC to achieve what he calls “Higher level of operational and financial efficiencies” to enable it distribute electricity at affordable rates to customers.
Customs Duties and GST on petroleum products are the LEC’s cost category that has the potential for volatility that adversely impacts the monthly expenses of the Corporation.
Meanwhile, President is expected today to switch on the street lights of Monrovia after sometimes of intensive work from the ELWA Junction to central Monrovia and then Bushrod Island.
The President is expected to turn on the switch at Vai Town, Bushrod Island to light up the Johnson Street to Freeport corridor, while Monrovia City Mayor Jefferson T. Koijee and Senator Saah Joseph will turn on switches at the Broad & Buchanan Streets and Congo Town respectively.
The switch at Congo Town will light up the Paynesville Boulevard to Monrovia City Hall corridor, while that of Broad & Buchanan Streets will light up Capitol Bypass to the Crown Hill.
The Presidential Street Light Project was initiated by the Chief Executive not only for the beautification of Monrovia but to also provide security for drivers, pedestrians, and other residents of the city. The President has promised that the initiative will be extended to other nearby streets.
The Project, funded entirely by the Government of Liberia, is being implemented by the Ministry of Public Works with technical support from the Liberia Electricity Corporation (LEC) and the Quality Group of Companies serving as Contractor. The ceremony will commence at 6:00 PM local time.