INSPECTION PUBLIC SERVICE ANNOUNCEMENT

Nationwide inspection
Nationwide inspection
Photo Credit: ITSSD/MoCI-RANDY

The Ministry of Commerce and Industry (MoCI) wishes to inform the business community and the general public that will conduct  a Three-Month Nationwide inspection ( Monday, October 25 to Tuesday, January 25, 2022), beginning from 8:00 AM- 5:00 PM, Monday-Friday.

The Three-Month Nationwide inspection is part of the Commerce Ministry’s efforts to ensure a conducive business environment for the entire Republic.

 

1. With immediate effect, all businesses are hereby instructed to display the daily Central Bank of Liberia exchange rate as well as a full price list of commodities in both Liberian and United States Dollars at their business premises at all times to give consumers purchasing options.

 

2. Absolutely no business entity is allowed to coerce consumers to transact or purchase goods and services in either of the dual currencies in our economy; to do so would fall in breach of the Administrative Regulation of 2019 which constitutes an offence punishable by law with a fine.   The Administrative Regulation of 2019 mandates all businesses operating within the Republic of Liberia to carry on all commercial transactions in both Liberian and United States Dollars as legal tenders.

 

3. With immediate effect, all businesses are required to take due notice of the CBL daily exchange rate in setting the prices of their goods.

 

4. All purchases at all medium and large businesses above LRD 500 should be invoiced to authenticate price stabilization.

5. Unhealthy business practices   such as    hiking of prices and hoarding of commodities, et al are deemed illegal. There shall be imposition of fines on individual (s) or business entity (ies) in proven violation of this regulation.

 

The Ministry of Commerce and Industry’s Inspectorate Division will closely monitor all businesses to ensure full compliance to this regulation in collaboration with the Ministry of Justice.

 

         Jacob N.B. Parley

         Communications Director

         Ministry of Commerce and Industry

         Emails: jacobtheancestor@yahoo.com/jparley@staff.moci.gov.lr

          Contacts: 0777604576/0886560455

            WhatsApp: 0991336137