Economist: The State’s Import of Fuel reduces its Price to the Consumer by 25-30%

Sudan Events – Rehab Abdullah

Economic expert Dr. Mohamed Al-Nayer said that the establishment of a billion-dollar portfolio to import essential goods is a good idea, stressing that the problem always lies in the implementation.
He stressed the need to avoid the negatives of the previous portfolio, which did not have a good return.
In his interview to (Sudan Events ), he called for benefiting from the mistakes of the past so that the current portfolio is positive and that the provision of the necessary financing for basic and strategic goods is done with complete justice and with the consensus of all partners of the portfolio, considering that all Sudanese banks coming to contribute must be part of this portfolio so that the necessary foreign currency for import is provided, and he stressed the need for the work of the portfolio to be transparent, clear and available to all media outlets.
Al-Nayir pointed out that there is another issue that must be considered, which is the import of petroleum products through the state in these situations , considering that the issue of liberalizing this commodity in the current circumstances harms the economy.
He believed that as long as the state has established this portfolio, it must undertake the import of fuel and set reasonable profits. He affirmed that this can reduce the price of fuel for the consumer by 25% to 30% of the current price offered by importing companies.
He added, “Therefore, the roles and integration of financial and monetary policies must be integrated with each other to achieve the desired goals, and work must be done in this portfolio with high efficiency, developing its resources and increasing the expected resources from it by introducing a large number of Sudanese banks so that there is a guarantee for the success of the portfolio.”