Members of Parliament on Tuesday November 10th 2020 ratified two agreements between the Government of Sierra Leone (GOSL) represented by the Ministry Of Trade and Industry (MTI), the Ministry of Finance (MOF) and Sierra Leone Flour Mill (SL) Limited which is US$20 Million
The concession agreement between the Government of Sierra Leone represented by the Ministry Of Trade and Industry and Ministry Of Finance and all Petroleum products, SL, for the rehabilitation and refurbishment of the Kissy Storage Tanks project and agreement between the Government of the Republic Of Sierra Leone and Societe Nouvelle De Commerce ( SONOCO S.A) From Guinea which is US$ 80 Million was also ratified.
Presenting the agreements to members of parliament, Minister of Trade and Industry, Edward Hinga Sandi said that this agreement will create jobs for Sierra Leoneans, pointing out that the life span of this agreement is three to five years.
He explained that the agreement will cut down on the importation of flour because bread is the second staple food.
Chairperson of Trade Committee Hon Veronica K. Sesay said the agreement is not controversial and that last year there was shortage of bread due to the price of flour but this agreement will see an end to that
Hon Alpha Amadu Bah said promoting investment is good, pointing out that the SONOCO agreement is US$ 80 Million but there is no deduction on tax between SONOCO and the government of Sierra Leone for which government is going to lose lots of money.
Hon Chernor R.M.Bah said that the agreement is important, noting that SONOCO S.A is based in Guinea but that they expect the local content policy to be applied to the letter.
The Leader Of Government Business Hon Mathew Nyuma said this agreement will not be used to support party’s office or political campaign but they need to monitor flour mill because it is private partnership with government.
