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Liberia: Government Action Paralyzes Haddad's Companies
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The Inquirer (Monrovia)
18 March 2008
Posted to the web 18 March 2008
An investigation has revealed that eighty percent of the Haddad Group of Companies has been paralyzed.
Although the investigation could not rightly give reason, but the companies that had been major suppliers of the country's staple food has been denied the right to do their business since the inception of the Unity Party (UP) led administration.
However, our investigation revealed that the action to stop the Haddah Group of Companies is predicated upon varying developments it believes runs inimical to its planned economic revival initiatives, especially as it relates to the 'free market policy.'
The company, which is owned by a Lebanese businessman, George Haddad has come under serious scrutiny with its premises thoroughly searched for unclear reasons.
Sometime ago, the Liberian Government claimed it was acting upon a tip off that Mr. Haddad was linked to a controversial sale of a stockpiled iron ore at the commercial port city of Buchanan. However, Mr. Haddah who was briefly detained at the National Bureau of Investigation (NBI) has been banned from traveling out of the country while the government is yet to decide his fate.
One political observer said the Haddad's scenario reminds him of the slogan during the civil crisis, which was, "no war, no peace."
Mr. George Haddad, a foreign national who had been involved in numerous humanitarian endeavors over the years has exhibited a high degree of generosity in Liberia.
Among other things, many students attending higher institutions of learning benefited from his scholarship scheme. Today, he is unable to continue these initiatives, primarily because of the level at which he has been strangulated.
Mr. Haddad has persistently refused to comment on these developments, which tend to grossly impede his ability to continue his goodwill to the Liberian people. He has rather referred inquisitive reporters to his legal counsel who has also preferred to remain tight-lipped. The legal counsel has argued it was improper for his client to make any official comment since there was currently a pending court action.
Other citizens who spoke to The INQUIRER during our investigation said Mr. Haddah had demonstrated his true partnership with the Liberian people. "He was successful in allocating acres of land for mechanized farming primarily for rice production. This initiative has however been stalled as a result of the current standoff," an observer said.
Mr. Haddad, a former president of the World Lebanese Cultural Union is an internationally acclaimed businessman who has been engaged in business ventures over decades.
An economist who spoke to this paper during our investigation, expressed regrets over the plight of Mr. Haddad and his many businesses as they have the ability to deliver the needed services to post war Liberia. The economist said the companies which have hundreds of Liberians in their employ may be constrained to lay off many of them, since the companies are not operating at full capacity.
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He intimated further, saying, "This is simple economics; if someone is employed to work and the work is no-longer available, it is unwise to keep such a person in your employ as this would cause you unnecessary loss."
Mr. Haddad is the owner of several businesses including the Bridgeway Corporation, the Liberia Group of Industries (LGI), Alliance Motors, and in recent years, the Prestige Motors Corporation.
Many concerned persons including rice dealers who spoke to this paper recently, have called on the Liberian Government to revisit its decision against the Haddad Group of Companies because it was through the companies' policy that several business people were empowered.
2 questions for the reporter and his editor - in - chief.
Is this article an opinion of the reporter?
According to the article, there is a pending court action,Haddad has a lawyer and there is an on going investigation. Why are you singing so much praises to Haddad as if you have chosen a side already? Think you can be a little more proffessional and objective.
Ray.
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