MONROVIA, LIBERIA-The Ministry of Commerce has given a one week ultimatum to non-Liberian owners and operators of pharmaceuticals to present their Articles of Incorporation or face the full weight of the law.
A Ministry of Commerce release issued over the weekend said the concerned business entities are to also present their financial statement for 2019.
The release also quoted the Commerce Ministry as saying its decision is aimed at determining the nature of Liberian participation in the sector as enshrined in the Liberianization Policy.
Under the policy, the operation of pharmaceuticals is exclusively set aside for Liberian citizens.
According to the release, the Commerce Ministry announced the decision over the weekend during a meeting with owners and operators of pharmaceuticals in the Country.
The meeting with the pharmaceuticals was a result of increasing reports of hike in the prices of essential drugs on the Liberian market in the wake of the coronavirus crisis in Liberia.
In another development, the Commerce Ministry has reacted to social media report insinuating that the Ministry is creating artificial shortage of gasoline in Liberia.
A social media report attributed to John Kollie of the Liberia Media for Democratic Initiatives (LMDI) claimed that the Commerce Ministry, with the consent and support of the Minister, is creating shortages and scarcities of gasoline for personal gains.
But in a counter-statement, the Ministry said its recent Legislative briefing, referencing the impact of the coronavirus on world trade, especially for essential commodities like petroleum product, was misconstrued by the author of the post.
The Ministry also clarified that it is not aware of any alliance, neither is it part of any alliance in the Liberian Petroleum Industry as claimed by Journalist Kollie.
The Commerce Ministry also clarified that its reference to low inventory of petroleum products prior to the next shipment ,of the products did not in any way suggest shortage or scarcity as claimed by the LMDI Boss.