Council of Ministers Approves Matrix on Economic Policies

The Council of Ministers, chaired by the First Vice - President and National Prime Minister, Lt. Gen. Bakri Hassan Salih, has approved  the new policies to restore the economic balance after the lifting of the economic sanctions imposed on Sudan.

The report on the policies was presented by the chairman of the economic development sector and Minister of Environment, Mubarak Al-Fadil Al-Mahdi.
the new policies were aimed for increasing gold reserve at the Central Bank of Sudan, preventing the smuggling of gold, adopting measures for stabilizing the exchange rate, determining means of payment which include enhancing the export revenues via the Bank of Sudan, creating channels for transfer of the expatriates' savings, absorbing the surplus finance, directing the commercial banks to give priority for the funding of productive sectors and the exports in compliance with the new economic policies, provided that the Bank of Sudan shall be the sole purchaser of gold according to a satisfactory and preferential price.
The new policies include the banning of importation of unnecessary commodities and those which are locally produced and satisfactory for meeting the local consumption.
Meanwhile, the Council of Minister has ratified the matrix on the new economic policies and gave directives for further determining to the list of negative commodities, setting the measures to be adopted on them precisely and studying the impact of that on the revenues of exports in foreign currency.
The Council of Minister has assured existence of laws that are preventing foreigners from practicing internal and foreign exchange trade through unlawful means as well as the issuing credit documents, calling for the reactivation of these laws and referring the violating persons to justice.
The Council of Minister has formed a committee to map out details on the matrix continent, chaired by the State Minister at the Council of Ministers, Jamal Mahmoud, and include as members the State Minister at the Ministry of Finance, Dr. Abdul-Rahman Dirar, the Deputy Governor of the Bank of Sudan, the Undersecretaries of Finance, Industry Trade and Mining, the Directors of the Tax and Customs Administrations and the Director of the Economic Security.
The committee was assigned to submit its report on the matrix details to the Council of Ministers within a period of one month.