The Ministry of Commerce and Industry was established by an Act of Legislature in 1987. The Ministry was originally established in 1948 as the Department of Agriculture and Commerce to regulate growth and development of Liberia’s economy and international trade and commerce. Addressing the Ministry of Information regular press briefing on Thursday,AminModad, Minister of Commerce, divulged tremendous efforts being made to improve, promote and stabilize the Liberian Businesses and the Economy. Modad mentioned that the Ministry has been able to raised $ 1.9 million USD in revenue for the period of 9 months. “From the first month we took over, we reduced the price of rice on the market from $17.00 to $16.75. Over the last 9 months, despite global factors, we have stabilized the supply and the prices of rice and other essential commodities, including sugar and petroleum products,” Modad stated. Despite the propaganda detractors continue to spew, we have managed the rice trade strategically LIBERIA HAS NOT EXPERIENCED ANY SHORTAGE OF RICE AND PRICES HAVE REMAINED STABLE! We are pleased to announce that on September 27, India reduced its 20% tariff on rice by 10%. This will have positive impact on stabilizing the price of rice on the market. With the leadership of the President, the strategy we employed over the last 9 months worked. He pointed out that the Ministry has been able paid $33K to the WTO fulfilling our arrears and $55K to the EIF against funds misappropriated by the previous leadership that prevented access to over $6M in capacity support. The Minister Commerce and Industry said despite propaganda against his institution, the Ministry has Launched a $6M line of credit for SMEs supported by the World Bank under the LIFT Program. According to him, the first US$3m has been processed and another $3m will follow. “I must emphasize here that the Ministry of Commerce & Industry under me will not be intimidated into corrupt practices or swayed by false accusations. The enemies of change for whom the very existence of this administration came into being is threatened by the changes we ware implementing; they will stop at nothing but to impinge the reputation of most who remain true,” Modad asserted. By:Trokon G. Flahnma Jr.