Former Secretary of the Tax Bureau Pledges Success of Commodities Portfolio with its good management and the prevention of corruption
Sudan Events – Rehab Abdullah
Former Secretary of the Tax Bureau , Dr. Ahmed Salim Mohamed said that the CBS Portfolio for importing basic commodities will realise great profits , but he referred this to avoid
Corruption.
In his speech to Sudan Events , he indicated that practical experiences showed that the previous governors often failed to achieve their goals in the manner required for mismanagement and corruption.
He attributed this because the administration can allocate the portfolio’s money to the importers’ money to other importers when submitting and sorting import bids. Salim believed that the success of this portfolio must be managed with high transparency, honesty and complete impartiality, so that it can achieve its goals before achieving profits, particularly in this exceptional circumstance that Sudan is going through.
He affirmed that the provision of dollars by wallet to import the necessary goods reduces the speculative rate in the parallel market, and this temporarily leads to an increase in the value of the pound and the depreciation or stability of the dollar, because the portfolio will save a sufficient amount of dollars ($1 billion ) to meet the increased demand. On the dollar in the parallel market with the purpose of importing, and this may also lead to stability and a decrease in the prices of the necessary goods imported, especially in fuel and medicine.
He added, “It is noted that this portfolio was formed between the Central Bank of Sudan CBS and the Bank of Khartoum only, not to banks, companies and other money houses.
This portfolio and the achievement of profits can be achieved, and added, “In order to achieve the general interest and to increase supply of dollars and to be able to import all the necessary goods, it was possible to open a contribution to the portfolio of other banks to increase their capital, or to work to establish parallel portfolios with the other banks.” Increase the supply of dollars and improve the spirit of competition to ensure that the targets are achieved from the portfolio, control the exchange rate and provide the necessary goods.
And he continued, “But none of that happened, which raises a fundamental question to the management of the Central Bank CB why was the portfolio between the Bank of Khartoum and the Central Bank CB and the other banks were not involved?”
