The economic policies which were recently issued by the government of prime minister, Mutaz Musa
, are not without aims to achieve; rescue of the economy from the miserable state it is in presently. The mechanism of the market makers (MM)- which is set to price the foreign currencies against the Sudanese pound on a daily basis- has been chosen to accomplish the job. Sudan Vision investigated the issue and came up with this detailed report.
Many spoke on the topic; to begin with, President Al Bashir said that the government adopted the economic policies to realize the aspired for stability for the country, affirming that they were to deal firmly with any person who played irresponsibly with the livelihood of the people.
Premier Mutaz, on his part, said regrettably that while there were 99 commodities which could be exported, only nine were, adding that if the economic policies were to be doomed to failure, then alternatively, they were to resort to the adoption of iron fist patterns.
Through his mobile, the prime minister twittered a message of good tidings; since October 10, there were five banks that had practically engaged in buying foreign currencies directly from the public.
The minister of Agriculture and forestry, Musa Mohamed Hasab Al Nabi, talked about the present agricultural season and how it would contribute to succeed the economic policies, pointing out that the returns of crops that were to be exported were estimated at US$ 4 to 5 billion.
Commenting on the mechanism of MM, Dr. Mohamed Kheir Al Zubeir, governor of the central bank of Sudan, said that it was an independent body that had nothing to do with the central bank. ‘The purpose is to transfer the external market operations of the exchange rates to be done here locally’.
In line, the spokesperson of the mechanism of MM, Abdul Al Hameed Abdul Baqi, stressed the neutrality of MM, explaining that it was not a governmental body which embodied economic experts, banks’ directors and managers of exchange rates.
Karrar Al Tuhami, the secretary general of the Sudanese working abroad organ, said that the new economic policies were intended to make the environment vey conducive to attract the savings of the Sudanese working abroad, going further to cite some illuminating and successful foreign experiences; in 2017, remittances of the Egyptian expatriates jumped from US$ 7 to 17 billion and the Indian ones from US$20 to 71 billion.
The head of Sudan’ banking union, Abas Abdalla Abas, said sadly there was fierce resistance to the new economic policies on part of those who were selfishly oriented by disseminating rumors that the price of the dollar would reach 50 SDG.
He went further to enumerate the advantages of the new policy, mainly the removal of deformities that plagued the exchange rate, therefore, stopping the deterioration in the value of the Sudanese pound.
The head of the banking union talked about the price set for the purchase of gold, describing it as very rewarding to prevent smuggling operations, disclosing that now there were three queues noticed to line before the central bank of Sudan to sell gold.
Abas concluded by revealing that there were many exporters who telephoned him to express their gratitude for the raising of the price of the dollar from 29 to 47 SDG, pointing out that the greedy persons and the ones of self-interest were not happy with the policies, ending his speech to say that the pattern would result in sustainable economic stability.
Governor of Gadaref state, Mirghani Salih, said that they exerted much efforts to prepare for the present agricultural season to make the harvest of crops, especially the sesame, very successful. ‘The Ethiopian and the Southern labors are the ones who will do the job. In addition to this, the pupils, students, university staff, the armed forces and the civil service employees will also participate in the harvesting operations’.
In the words of the governor, preparations were also to involve availability of sacks, petroleum products and cash liquidity, concluding by calling for equality of the price of the sorghum crop with that that of wheat.
The manager of Al Salam Bank, Al Nur Ajabna, said that it was too early to assess MM, indicating that judgment of any policy needed at least 6 months.
Saud Al Bireir, chairperson of Sudan’s work owners trade union, called on protecting the new economic policies by not allowing the rise of another parallel market, going to praise them like this; ‘ allow the importers and exporters alike the freedom of work’, concluding his remarks that and within only 48 hours from the announcement of the policy, huge amount of money, estimated at trillions were witnessed to enter the country.
Ali Jabir, a farmer, said that it was true that the new economic policies should be associated with huge stock of foreign currencies as the case of the Egyptian government, but lamenting that that such a thing was not existent when it came to the case of Sudan. ‘In fact, almost all have refused to help, not only the far distant persons, but even the near brothers and friends’.
Mohamed Osman Suleiman, economic expert, saw that there were many factor to consolidate MM among them were; ‘the present agricultural season that is to feed the national treasury with US$ 4 billion and the remittances of the Sudanese working abroad- US$5 billion’.
Ali Al Mubarak, school teacher, suggested that and as a way out from the miserable situation the county had been plagued with presently, especially economically, was the return back to the past illuminating experiences of the cooperative societies, noticing that this was far better than increase of salaries which were once applied then that was the time to be swallowed up wholly by the market.
Um Kalthoum Awad, university graduate, stressed that there were genuine physical factors that were to lead to the success of the new economic policies; exports of gold, agricultural crops and animal products, especially the meats.
Abdul Malik Rudawan, worker, said that he was too confident that the new economic policies would encourage the local farmers, especially in the sphere of wheat production-a situation that is to result in stopping importation of the commodity from other countries, especially Australia.