Finance Minister Ibrahim El Badawi announced during a national television interview yesterday that subsidies on fuel will be gradually lifted in the second half of this year. The suspension of the subsdies will last a year.
El Badawi pointed out that subsidising fuel is “ineffective and unfair” because of the widespread smuggling of fuel. Smuggling is one the main reasons for the scarcity of fuel. He claimed that Sudan is “the third cheapest country” with regard to fuel. Cutting the subsidies will save the government $ 400 million.
The minister stressed the need to move from commodity subsidies to directly subsidising the poorest people.
He also said he expects to receive significant amounts of money as a result of the efforts to recover looted funds, both within Sudan and abroad. He claimed there were clear indications of looted funds abroad, which are secretly managed by judicial agencies.
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