Oil Revenue halts, New Revenue Sources Arise
Filed Under: Business, Politics | Posted: 02/27/2012 at 6:57AM
Comments | Region: Sudan
After shutting down oil exportation through Sudan, the Republic of South Sudan has identified many sources of revenues to equalize the gap of oil revenue; the President of the Republic of South Sudan Salva Kiir Mayardit last directed the Ministry of Finance and Economic Planning to check more alternative sources of revenue. “Begin possible strategies for income gathering and portion, to boost in compilation of non-oil revenues” Kiir was quoted, in respond to Kiir’s call, the Minister of Finance and economic planning Kosti Manibe has expressed high concern to loan funds.
. Addressing the parliament, Manibe said that people should be ready to meet price inflation, which will rise due to the closer of the oil pipelines. He said that the ministry of finance and economic planning will urgently table emergency budget to the parliament for approval for this month. He described the step as the only way where the government will rescue the current economic tension.
“Constrict your economic belts and continue with your lives as usually, don’t panic, everything is in place” Kosti was quoted. “The Ministry of Finance cannot longer consider payment of cost benefits” Manibe disclosed. Manibe expressed Possibility of acquiring loans and the decision is a must which must be implemented. Meanwhile the Minister of Agriculture and Forestry, Betty Achan, has urged South Sudan communities to embrace on agriculture, “put down the seeds, as the Government of South Sudan will distribute for you more seed early Match” Achan told famers. She indentified agriculture as the backbone of the Country, not oil; she expressed committee of her Ministry in meeting more than 50 percent of the Government revenue.
Meanwhile Hon. Lino Wuor Abyei, of Duk and Twic East women constituency women has strongly denounced the cabinet for their negligence attitude toward the nation and citizens in general for the reason of giving Sudan 2.8 million US, Dollars, which was described as the economy rescue to Sudan. She Reject the proposal because South Sudan even need to the needs to its citizens.”
“If we talk of tightening of economic belts, then it must start from the Cabinet” Wuor asserted. She urged South Sudanese to think wisely and laid all necessary strategies to tighten the economic belt, as stated by the Minister of Finance. She challenged the President idea of moving with huge number of ministers. According to her, there is no reason for the President to move with ministers’ exception of the Minister in the office of the President. She called upon the Ministry to cut off daily allowance or be reduced. “This will be the only way of maintaining our economy in this era of oil shut down” she inserted.
The decision of shutting down the oil was genuine as the all citizens from all the ten states took to the streets supporting the decision. On behalf of Western Equatoria state, Bangasi Joseph Bakosoro said that the country can do without oil revenue. “We did out oil, we are doing without oil and we will do without oil revenue” Bakosoro commented after the decision of shutting down oil exploitation.