Nimba County District #9 Representative Musa Bility has raised concerns about the Liberia Petroleum Refinery Company (LPRC) Bill currently before a House committee for review, terming it a ‘wicked’ proposal.
Speaking to reporters at the closure of the 1st quarter of the 3rd session of the 55th Legislature, Representative Bility said the bill seeking to give LPRC exclusive rights is not good for Liberian petroleum importers, noting that while reform in the petroleum sector is essential, it must be balanced with policies that protect and promote local business participation and economic growth.
However, the House of Representatives took steps toward ensuring thorough legislative scrutiny of the proposed petroleum reform law by initiating the process to establish a Conference Committee with the Liberian Senate. The decision was reached during the 20th Day Sitting of the First Quarter of the Third Session, following the reading of an engrossed bill recently passed by the Liberian Senate titled: “An Act Creating the Liberia Petroleum Refining Company (LPRC) and Amending and Restating Certain Portions of the Act Granting LPRC Exclusive Rights to Refine, Import, Store, Distribute, Regulate, and Commercialize Petroleum and Petroleum-Related Products within the Republic of Liberia.”
Making a motion to proceed with the formation of a Conference Committee Bong County Electoral District #3 Representative Hon. J. Marvin Cole acknowledged the importance of the proposed legislation, describing it as a “fine bill,” but raised concerns that certain provisions could potentially disadvantage Liberian-owned businesses, particularly those that have made substantial investments in petroleum storage infrastructure and related services.
The Conference Committee will be tasked with reconciling differences, reviewing contentious provisions, and ensuring that the final version of the bill reflects the best interests of Liberian businesses and the nation as a whole.
