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NRA “SLAPS” IMPORTERS …renders them financially troubled

When the idea of Local Content Policy was initiated by President Ernest Bai Koroma, several factors such as market liberalization and availability of goods, both tangible and intangible were taking into consideration. Additionally, the element of the provision of an enabling environment for equal market competition was also a serious factor that   the Local Content Policy took into account. Sadly, a misrepresentation of the Local Content Policy has seen the National Revenue Authority (NRA) slamming and imposing unreasonable tax increase on imported Alcoholic drinks and beverages in a bid to protect indigenous and locally produced products of similar nature. Unfortunately, this move by the National Revenue Authority has been described as unpopular and unreasonable with negative effects that would do nothing good to upgrade the standards of locally produced products. This is because locally produced products are not practicing or observing standards in production compared to international products that are tied to standards. The poor quality products of some of the local Companies are evident in the behavior of consumers who are always violent after consuming the products. There are a number of locally produced goods that have long been overdue for elimination or ban from the market, but with this action of NRA to financially stifle importers of foreign products, it is now evidently clear that the NRA is in support of the type of bad products produced by some local companies for market distribution and consumption.

Protectionism as a tool to control market liberalization and free trade is both absolute and unproductive in the 21st Century of Global trade and competition. The NRA has provoked negative reactions from the public and poor or low revenue generation will be the expected result due to its unreasonable consideration of the prevailing economic situation

Posted by on 7:34 pm. Filed under Breaking News, NEWS, OTHER NEWS. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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