The Minister of Commerce and Industry (MoCI), Amin Modad, has threatened to resign if he does not get the requisite support, through the political will of the President and the financial and moral support of his cabinet colleagues, to implement the programs and overall vision of his ministry.
Addressing the House plenary Thursday, April 4, 2024, Minister Modad said the Ministry of Commerce is responsible for ensuring the growth and development of the country’s economy and international trade, as well as for promoting and supporting Liberian businesses through requisite policies and investments.
The appearance of the Commerce boss was triggered by a communication from Nimba County’s electoral district #7 Representative, Musa Bility, on the enforcement of the Small Business Empowerment Act (SBEA).
In a rather bold and unprecedented move, Modad said he would give no second thought to leaving his post if he does not receive the necessary support from the Gov’t to implement some critical initiatives geared towards creating economic growth and ensuring the functioning of a free market economy, among others.
Minister Modad made this statement on Thursday, April 4, 2024, during his appearance to address critical issues relating to the act that created small business empowerment.
Minister Modad’s response was triggered by a question of whether his appointment as Minister was just for the “salary”. In response, he vehemently rejected the idea, saying that he is opting to reform and transform the Commerce Ministry.
He expressed his disappointment and frustration over the allocation of US$256,000 in the 2024 budget to support Liberian businesses, which he described as a “drop in an ocean”. He maintained that the allocation contravenes his effort to drive forward the government’s agenda, particularly in small business empowerment.
He emphasized the importance of cohesive support from the President and the Legislature to effectively implement the ministry’s agenda and programs, which will benefit the small business sector.
Meanwhile, the Commerce and Industry Minister has assured the public of recusing himself from participating in all three businesses he owns, adding that he has since, upon his confirmation, turned over the businesses to others to assume full management roles.