The Economic Emergencies Supreme Committee’s Resolution: Will it Pay Off?
The Economic Emergency Supreme Committee led by the First Vice President of the Sovereign Council, 1st Lt. Gen. Mohamed Hamdan Dagalo has issued several decisions in the presence of the concerned ministers, Khartoum State Governor, Central Bank of Sudan officials, customs, and representative of the security apparatuses.
The decisions included 16 directives including the unification of the exchange rate, security of the flow of the fuel and gas to guarantee the continuation of power supply, facilitating the procedures of providing Ramadan requirements.
The Supreme Committee decided to form a special court to deal with the violators of the national economy, especially those working in the smuggling of gold and commodities.
The Committee will send a delegation to Port Sudan to remove all obstacles facing the harbor, besides activating the medicine flow mechanism, and banning importation without prior approval from the concerned authorities.
Meanwhile, Vice President of the Sovereign Council, Head of the Supreme Committee of Economic Emergencies, 1st Lt. Gen. Mohamed Hamdan Dagalo has announced the arrest of more than 40 gold smugglers and dollar dealers, adding that the concerned authorities are launching a campaign to arrest the real speculators in gold and dollars.
He added that the Committee managed to determine the franchise companies as a step to make the required review to benefit from the resources to revive the economy.
“We do not want anybody to smuggle even one gram, and anybody who wants to import we will provide the currency after determining the commodities to be imported” Dagalo added.
He announced that the joint forces will monitor all the crossings and checkpoints, besides intensifying the control over all the gold mines and the licensed companies.
He added, following the first meeting of the Committee at the Republican palace that the authorities seized 260 smuggled camels during the last two days.
He directed the activation of the joint forces, adding that there will be new decisions to curb the hikes of the exchange rate, affirming that the situation of gold reserve in the Central Bank of Sudan is satisfactory, praising the Ministry of finance for designing2022 budget without foreign support.
Dagalo affirmed that the government will maintain and operate the harbors besides facilitating its services.
He called for reviewing the strategic commodities burse to reach USS10 billion to serve the country.
He reassured the citizens that the country will revive and that the government recognizes and reconsiders the sufferings of the people.
He emphasized the importance of preserving the resources of the country, especially gold, seeds, Gum Arabic, and livestock.
He pointed out that the government will sit with the Sudanese Business Federation and the chambers of commerce unions to work out a joint plan to bring the country out of its crisis.
Dagalo also met with the Sudanese businessmen and exporters asking them to top the nation’s interests over their ones, besides working jointly with the government and the people to change the present dire economic situation.
“We don’t want the businessmen to work for their interest, but we want our motto to be Sudan First” added Dagalo.
He affirmed while addressing the Sudanese businessmen and exporters at the Commercial Chambers Tower, that the reserve of gold in the Central Bank of Sudan is sufficient, and that the recent procedures will lead to the reform of the defect in the present dire economic situations.
He admitted that federal ministries did not perform perfectly in the recent months a matter that affected the economic situations in the country.
He called for imposing harsh measures against the smugglers, pointing out the existence of 75 factories of gold residue besides 15 franchise companies without any effect on our economy.
He directed reviewing the illegal fees and levies imposed on the traders, besides determining the measures of granting commercial licenses.
He criticized some of the banks for their violating the banking system procedures.
He pledged to remove all the obstacles in Port Sudan harbor, adding that he will visit Porst Sudan to deal with any defects.
He directed expediting the formation of gold and seeds bourse, besides establishing the one-window project to ease the export and import procedures.
For his part, Minister of Finance, Dr. Jibril Ibrham, affirmed his readiness to resolve all the outstanding issues facing the businessmen, sides reviewing levies and financial procedures, affirming his cooperation with Employers and Businessmen federation through establishing a body for promoting the exports.
Chairman of the Sudanese Employers and Businessmen Federation, Hisham Al-Subat affirmed that the private sector is facing harsh situations, opting to several challenges related to the harbors, the empty containers, the monitory policies, bureaucracy in civil services, and the enormous fees and levies.
On their part, the gold producers (gold residues and byproducts, conventional miners, and franchise companies) pledged to supply the central Bank of Sudan (CBOS) with all their gold production.
Member of the Mining Committee, Tariq Saleh Ali, described their meeting with the VP as fruitful as they reached understanding related to the production process, adding that there will be good omens in the upcoming days which will have its positive reflection on the exchange rate.
He added that they have pledged to the VP to supply the CBOS with their gold production to contribute to resolving the economic crisis, pointing out that the discussions with the VP were transparent and objective.
According to economic expert, Dr. Osman Barsi said Sudan is far away from the actual financial intuitionalism which is supposed to deal with the crisis.
He emphasized the importance of security intervention and that is because it is the major pushing force to confront the crisis and lead to the revival of the Sudanese economy.
Barsi said that Dr. Hamdok’s government and its political incubator worked to weaken the security apparatuses while in the whole world the link between the security and economy is getting closer.