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HomeBusinessAmended Finance Act Poises to Kill Local Industries in Sierra Leone

Amended Finance Act Poises to Kill Local Industries in Sierra Leone

Amended Finance Act Poises to Kill Local Industries in Sierra Leone

SLPP GOVERNMENT SELLS SIERRA LEONE FOR CHICKEN CHANGE

This is an undeniable fact that President Bio’s government is not seeking the general welfare of the self-evident Sierra Leoneans who are severely suffering from affording even our staple food (i.e. rice). Devoid of the untimely and advertent increase in the fuel price, the misdirected new direction has also embarked on killing the infant industries by reducing taxes on imported alcoholic drinks as against increasing the tariffs on our basic commodities especially food. According to findings conducted by this medium, there are over three thousand local farmers who were involved in producing sorghum for the production of beverages and alcohols by the Sierra Leone Brewery Limited (SLBL) who have now been left paralyzed as a result of the passing into law the Amended Finance Acts of 2016, 2017 & 2018 that has consequently favored the foreign importers over Sierra Leoneans.  (Photo: President Julius Maada Bio)

The advent of the decrease in the tariff of those aforementioned products has given rise to the increase of imported goods (alcohol) and as a result, will inevitably drastically discourages our infant industries to concentrate on the production of our locally produced commodities- thus leading to boosting the infant substituting industries which in turn leads to a growth in the Gross Domestic Product (GDP). Another negative effect is the increase in the unemployment rate as the current socio-economic situation is nothing to write home about. Though the producers of sorghum were faced with numerous challenges, notwithstanding those boredoms, their activities were still yielding good fruits but now that this biased Bill has been passed, they have automatically become jobless and devastated as the demand for that particular instrument (sorghum) will definitely fall. It was confidentially disclosed to the Sierra Express Media (SEM) that groups of importers of alcohol have mobilized funds for this administration in order to forester such a bad deal. Accepting bribery at the detriment of the deprived nationals.

The bone of contention by the general populace is- decreasing the tariff on harmful commodities as against increasing taxes on our staple food. “Depriving the greater proportion of Sierra Leoneans who are not prone to alcohol drinking at the advantage of a very small number that are addicted to it is the act of failing and deceiving the electorates”. Opined by an interviewed cobbler. The people of this country are still drawing the utmost attention of the PAOPA administration to refrain from putting their selfish interest above that of the nation or else they will respond through the ballot box come 2023 presidential and general elections.

By: Allieu Lamin Kamara

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