Current Date:

Tuesday, 08 November 2016

Increase in Petrol, Gasoil and Electricity Prices, 20% Increase in Salaries and Wages

Khartoum - The price of petrol was increased on Thursday to SDG 28 instead of 21 and Gasoil to SDG 18 instead of 13 while the electricity supply rates

were increase for consumption above 400 kilowatt. This was declared by the Federal Minster of Finance and National Economy Badr El Din Mahmoud in a press conference on Thursday.
At the same time the Minister declared a 20 percent increase in the salaries, wages and incentives of public employees while reducing public expenditure by 10 percent. These measures will be accompanied by the restriction in the import of some commodities and as well tariffs will be increased on some important commodities.
Badr El Din justified these measures as there were two alternatives either these increases or the return of the queues to the markets adding that the surplus from these increases will be utilized to support the productive sectors and the electric power generation sector as well as support for basic imported medicines.
Reducing inflation rates and the imports bill in addition to support to the limited income segments of the society is a basic component of the 2017 Public Budget, he said.
The Finance Minister stated that the World Bank have not provided Sudan with any funds and its role is limited to consultation but Sudan economic reforms implementation have been good despite the economic sanctions. 
On the other hand, the Federal Minister of Agriculture and Forests Prof. Ibrahim Al-Dikhairi said that, the new measures taken by the Ministry of Finance will provide the agricultural sector with the necessary resources to implement the introduction of new technologies programmes and affirm that the state considers the agricultural sector a first priority sector. The State Minister in the Federal Ministry of Health Dr. Samia Okud who participated in the press conference said that the state has not liberalized the medicines prices but the rate of the dollar used in its imports and the state continue to support medicines vide tariff reductions and exemption from customs duties. In addition to that free medical care is provided for Malaria and TB patients.
The wages and salaries increases decision was described by the SWF (Sudan Workers Federation) President Eng. Yousuf Ali Abdel Kareem, as historical. He added that the Ministry of Finance policy aims at enabling those at the bottom of the ladder meet the living costs and that increases in the incentives will improve the standards of living of public employees. Also, the SWF president mentioned that 10 basic commodities will be distributed through special mechanisms to employees.
The Central Bank of Sudan Governor Abdel Rahman Hassan stressed on that the monetary policies complement the financial and economic policies. He added that the recent measures taken aimed at reorganizing the banking sector, foreign exchange market and attracting the expatriates’ transfers. In addition to that the monetary policy has supported the export and productive sectors  
The Minister of Finance ( who had resigned) in an interview with Alyar Newspaper said that he has called for the abolishing of subsidies and this is his firm conviction inside and outside the ministry adding that the impact of such a step will be very positive on the economy and people living conditions.