Military involvement in private sector 'unacceptable'
KHARTOUM - The involvement of Sudan's military in the private sector is "unacceptable," and such enterprises should be turned into public companies, prime minister Abdalla Hamdok has said.
"All the world's armies are involved in investments ... in military manufacturing," he said. "But for the military to invest in the productive sector, and to displace the private sector, is unacceptable," Hamdok said on Monday.
Sudan's military, which rules with a civilian coalition over a transitional period following the ouster of Omar al-Bashir in 2019, controls numerous businesses in the agriculture, mining, and energy sectors.
"You cannot manage resources belonging to the Sudanese people without transparency or accountability. There's no wavering on this," Hamdok added.
He spoke at a news conference regarding Sudan's removal from a US list of state sponsors of terror.
His comments came in response to a question about a law passed by the US Congress requiring financial transparency and civilian control over Sudan's state-owned enterprises as a condition for US assistance to Sudan, which he said would "surely help the democratic transition".
Hamdok said his administration's desire is to turn the military-owned companies into public joint stock companies in which the public can invest. "It's easier said than done, but we will work on it and see what we can achieve," he said.
STOCK EXCHANGES
Sudan's finance ministry has approved the establishment of stock exchanges for gold, minerals and agricultural commodities.
The decision was taken after a board meeting of the Financial Markets Regulatory Authority, which will grant financial licenses and play an important role following Sudan's removal from the United States' list of state sponsors of terrorism, a ministry statement said.
It also said the United States committed to providing support for wheat and other commodities over four years as well as for debt relief.
"The US government has committed to providing over US$1 billion that will support Sudan on its road to debt relief ... This is in addition to in-kind support that includes the provision of wheat and other commodities over four years," acting finance minister Heba Ahmed said. – Nampa/Reuters
"All the world's armies are involved in investments ... in military manufacturing," he said. "But for the military to invest in the productive sector, and to displace the private sector, is unacceptable," Hamdok said on Monday.
Sudan's military, which rules with a civilian coalition over a transitional period following the ouster of Omar al-Bashir in 2019, controls numerous businesses in the agriculture, mining, and energy sectors.
"You cannot manage resources belonging to the Sudanese people without transparency or accountability. There's no wavering on this," Hamdok added.
He spoke at a news conference regarding Sudan's removal from a US list of state sponsors of terror.
His comments came in response to a question about a law passed by the US Congress requiring financial transparency and civilian control over Sudan's state-owned enterprises as a condition for US assistance to Sudan, which he said would "surely help the democratic transition".
Hamdok said his administration's desire is to turn the military-owned companies into public joint stock companies in which the public can invest. "It's easier said than done, but we will work on it and see what we can achieve," he said.
STOCK EXCHANGES
Sudan's finance ministry has approved the establishment of stock exchanges for gold, minerals and agricultural commodities.
The decision was taken after a board meeting of the Financial Markets Regulatory Authority, which will grant financial licenses and play an important role following Sudan's removal from the United States' list of state sponsors of terrorism, a ministry statement said.
It also said the United States committed to providing support for wheat and other commodities over four years as well as for debt relief.
"The US government has committed to providing over US$1 billion that will support Sudan on its road to debt relief ... This is in addition to in-kind support that includes the provision of wheat and other commodities over four years," acting finance minister Heba Ahmed said. – Nampa/Reuters
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