Finance Minister urges private sector to real partnership to support export projects

Finance Minister urges private sector to real partnership to support export projects

December/05 | am:10:16 / No Comments 271 views

Khartoum, December 1 (SUNA) – The Minister of Finance and Economic Planning Badr-Eddin Mahmoud Abbas called on the private sector to engage into a real partnership in order to support the export projects, revealing that the private sector law is in the final stages, stressing provision of electricity to the industrial sector by installation of transformation plants.

The minister pointed out, in a briefing to the Federation of Businessmen on the features of the budget of 2017 at the premises of the Ministry of Finance, to the reduction of the trade balance deficit to $ 3.5 billion, stressing that the position of petroleum products in the budget of 2017 will be better after the devolution of some petroleum blocks to the government, provision of oil products with the guarantee of Sudan’s debt on the State of South Sudan and continuity in the privatization program of the state companies in addition to the direction of spending towards production sectors and stoppage of guarantees for operations that need foreign exchange.
The Minister of Finance pledged to include the Businessmen Federation proposals in the budget of 2017, pointing to the major role of the private sector in the implementation of the economic activities and the five-year program.
Abbas called on the private sector to develop a pilot project in each state according to the comparative advantage of the state, explaining that the success of the agricultural season led to a positive impact in the export sector including beef, edible oils, sesame and gum Arabic, referring to the package that have been taken to put austerity, reform and correction measures in the external sector and the increase in tariffs on some goods to decrease import in order to reduce the trade balance deficit.
The minister pointed to the rationalization and reduction of government spending, stressing issuance of a decision stopping host of delegations and conferences except after the approval of the Ministry of Finance as well as the reduction of fuel and electricity in government consumption.
On his part, the Chairman of the Federation of Sudanese Employers and Businessmen Saud Mamoun Al-Berair explained that the economic stability was deemed an important priority for the private sector besides focusing on policies supporting production for export purpose and provision of funds for the agro-industrial sector, calling for a chance to the private sector to engage in gold purchase and development of encouraging export policies, determination of the areas of preferential advantages for investment in the rural areas to curb immigration, stoppage of the establishment of state-owned companies and adoption of controls on import priorities, revealing that the state policies discourage export, calling for paying attention to the technical education and prevention of exceptions in the import of used vehicles which led to the dumping of transport market, and processing import and confined the agents to determine responsibility, adjust foreign labor that lead to waste of resources.

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