By Philip Buda Ladu
The government had resolved to allocate or designate one crude oil cargo specially for the payment of civil servants’ salary arrears and help salvage the measurable livelihoods of the common citizens who have been stroked by economic hardship characterized by hyperinflation; high commodities market prices.
This new development came following the President’s meeting with some Ministers tied to the economic sector and the Governor of the Central Bank on Monday at State House J1.
President Salva Kiir Mayardit yesterday (Monday, 1st August 2022), received briefings in his office from three Ministers and the Governor of the Central Bank pertaining to the current biting economic situation in the country.
The situational briefing to the President about the ailing economy was centered especially on how to alleviate the skyrocketing food commodity prices in the market, runaway dollar rate and payment of salaries and arrears.
The President was briefed in his Office by the Minister of Presidential Affairs Hon. Dr. Barnaba Marial Benjamin, Minister of Finance and Planning Hon. Agak Achuil Lual, Minister of Petroleum Hon. Puot Kang, Governor of Central Bank Hon. Moses Makur Deng and Economic professor, Dr. Lual Achiek.
The meeting after thorough deliberation on the current economic situation resolved for a short term solution to stabilize the country’s ailing economy as the government continues to work for the long term solutions.
“We have agreed that, one cargo of crude will be earmarked for salaries, and every month that cargo will be sold in form of dollars and proceeds will come to the Ministry of Finance and Planning and therefore the Ministry of Finance through the Bank of South Sudan will pay the salaries and arrears”, Finance Minister Agak Achuil briefed the media after the meeting.
He said buying the South Sudanese pounds from the Bank of South Sudan, will enable the Bank of South Sudan to use the dollar to stabilize and maintain the foreign exchange rate in the market as a short term solution.
Meanwhile, The Minister of Petroleum Puot Kang urged South Sudanese business community not to exaggerate the situation in the market by raising the prices of commodities. He urged them to be patriotic and do what is just for the people.
Minister Puot Kang promised that the team will do exactly what they have been directed by President Salva Kiir to ensure that civil servants’ salaries and arrears are always cleared off by the use of the crude cargo designated for it.