Monrovia, Release-President George Manneh Weah signed Executive Order #111 exempting the Liberia Electricity Corporation (LEC) from paying Customs Duty on GST Generation, Transmission, and Distribution equipment, materials, and fuel. In an effort to drive national rehabilitation and growth, Mr. Weah recently signed Executive Order #111.
President Weah stated that the issuance of Executive Order #104 is conditioned upon its expiration, adding that it is still necessary to reduce the cost of fuel in order for LEC to offer energy to the general population at a competitive price.
According to the Executive Mansion, the Liberian Leader noted that LEC faces external market dynamics and risks that increase the costs of operations as it continues to expand its utilization of hydroelectric power generated from the Mount Coffee project to provide customers with reasonably priced electricity. converting to the use of hydropower rather than fossil fuels to provide electricity. The President claims that some of the issues LEC faces are related to the procurement, distribution, storage, and usage of fossil fuels, particularly heavy fuel oils (HFO), which are expensive for the company.
Investing in the expansion of the country’s use of hydropower has slowed down, he claimed, and Executive Order #111 is required to assist LEC in achieving greater levels of operational and financial efficiency so that it can offer energy to customers at competitive prices. President Weah emphasized that LEC has shown a need to reduce costs in order to prevent the cost of power in Liberia per kilometer hour from rising and, instead, actively seek their systematic and long-term fall.
According to Mr. Weah, it is essential for the Liberian government to implement a plan of action that will stabilize LEC costs and enable the Corporation to increase the number of connections to the National Electricity Grid. Transformers, wires, light poles, electricity meters, components and accessories, and operational and specialized vehicles are among the materials and equipment that Executive Order #111 prohibits.
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