𝐋𝐈𝐒𝐂𝐑 𝐈𝐒 𝐓𝐇𝐄 administrator of the Liberia Maritime Registry under the Liberia Maritime Authority (LiMA), and is a private U.S.-owned and globally operated company, with headquarters in Dulles, Virginia (outside Washington, D.C.), USA. The Liberia Maritime Authority is regarded as one of the highest revenue-generating agencies of government, contributing close to US$20 million to the revenue envelope of fiscal year 2023. However, it has over the years been accused of being at the crux of financial indiscipline, coupled with organized schemes and deep secrecies that appear to be difficult, if not impossible, to infiltrate. This, according to information, has caused the nation severe financial wounds while a few privileged officials of government allegedly pocket millions of dollars annually from the maritime funds at the detriment of the impoverished Liberian citizenry.
𝐓𝐇𝐄 𝐋𝐈𝐁𝐄𝐑𝐈𝐀𝐍 𝐑𝐄𝐆𝐈𝐒𝐓𝐑𝐘 is comprised of 5,600+ vessels aggregating over 242 million gross tons, representing 15 percent of the world’s ocean-going fleet. The registry has sat pretty as number one in the world since July 2023. But information revealed by Dr. Chambers to newsmen on Wednesday, February 7, 2024 says the postulation as to how LISCR fundings have been coming in has been the dismal, claiming that Liberia has been at a peril in terms of what it should be generating.
𝐃𝐑. 𝐁𝐇𝐎𝐅𝐀𝐋 𝐂𝐇𝐀𝐌𝐁𝐄𝐑𝐒 called on the Joseph Boakai administration to probe into the issue regarding the maritime saga: whether the maritime sector is meant for only a minute portion of the Liberian population. In his view, if LISCR is not ready to serve the purpose of why it was established, then it should be reconsidered, removed and replaced by a more responsible body.
𝐏𝐀𝐑𝐓 𝐕 (𝐅𝐈𝐍𝐀𝐍𝐂𝐈𝐀𝐋 𝐏𝐑𝐎𝐕𝐈𝐒𝐈𝐎𝐍𝐒) Section 19 of the Act establishing the Liberia Maritime Authority the authority to the office to be responsible for the collection of the all monies collected by LISCR or any succeeding agent on behalf of the government, and due to the government, and deposit same into the Government of Liberia’s general revenue account with the Central Bank of Liberia.