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| “Pres. Sirleaf Did Not Order Euro- ICC Contracts Aborted” |
| Published on March 01, 2010 | Email To Friend Print Version
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A clarification has been made on a Front Page Story published on Wednesday, February 24, 2010 Vol. 1 No. 15 of the New Dawn Newspaper, captioned; “Ellen Orders Euro Logging, ICC Contract aborted”. Browsing through the story one would understand that the letter which the publisher refers to has been misinterpreted.
A release from the FDA said the fact of the matter is that due to the global economic downturn, FDA has relaxed the law as to the consequences of delinquency on the timely payment of land rent bid premium. In keeping with the contracts signed, the concessionaire must be able to completely pay his land rent bid premium within 30 days after ratification by the National Legislature. Failure to do so would trigger a Notice of Termination consistent with Section B 8.73 of the standard contract for all Forest Management Contracts (FMC's). Further at this section, the Contract Holder is given 90 days to make payment of all outstanding amounts due Government inclusive of interest and penalties.
In this case FDA's letter of 8th February A.D. 2010 based on the contract provision above stated gives all delinquent companies up to 8th May 2010 to make good their financial obligations, otherwise their individual contracts would be terminated. Since the receipt of these notices, nearly all of the delinquent companies have made tremendous efforts in paying substantial amounts of their financial obligations, the release noted.
The publication that the President of Liberia has cancelled the Forest Management Contracts for Euro Liberia Logging and the International Consultant Capital is false, misleading and unfortunate. Stories as such coming out of the print media calculated at misinforming the public undermine the resolve of Government in its quest to developing the lives of its people.
It would have been fair had the New Dawn sought from the FDA interpretation of the communications to the subject companies. Such journalistic practice should be discouraged, the release concluded.
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