The Ministers of Commerce and Industry, Justice and the Liberia Petroleum Refinery Company (LPRC) have threatened to arrest and prosecute anyone found hoarding petroleum products.
These government agencies have therefore put a team of police officers to effect the arrest of anyone found hoarding petroleum products at the detriment of the public. Their commodities will also be confiscated.
The information comes in the wake of reports that unscrupulous individuals were planning to purchase and hoard petroleum products to cause an artificial shortage on the market.
Making the disclosure Thursday, LPRC Managing Director, Mr. T. Nelson Williams warned Thursday that these unscrupulous individuals are bent on creating problems for taxpayers during the Christmas and New Year festivities.
Mr. Williams disclosed that he refused to renew the licenses of two foreign companies who defaulted the terms and agreement of importation of petroleum products in the country.
Without disclosing names of those companies whose petroleum importation licenses were not renewed, Mr. Williams said LPRC is interested in promoting Liberian importers that are willing to abide by the terms of our importation laws.
"Our interest is to see Liberian businesses who are up to the task to grow. We are interested in the Liberalization Policy which aims at empowering Liberians," Mr. Williams insisted.
Concerning the apparent shortage of petroleum products on the market, Mr. Williams said there is no shortage on the market and that consignments of petroleum products will arrive on the market shortly.
He said TOTAL, Tetro Trade, and MOTC will bring 500 metric tones of gasoline, 7,000 metro tones of fuel and 1,100 metric tones of kerosene on board the Leon Dias vessels between 8 and 10 December 2012.
Additionally, Aminata will bring in 3,000 metro tones of gasoline and 3,000 metric tones of fuel to ease the situation.