Yemen Monitor / Newsroom:
The Supreme Committee for Sovereign and Local Revenues held its sixth regular meeting today, Tuesday, chaired by Aidarous Al-Zubaidi, Vice President of the Presidential Leadership Council and head of the committee, to discuss measures for controlling and depositing revenues.
The meeting reviewed the implementation of the outcomes of the previous session, foremost among them the Ministry of Oil and Minerals’ report on the start of refining 6,000 barrels of oil per day at the Aden refinery, the operation of the asphalt production unit, and ongoing efforts to secure a loan to operate the refinery at full capacity.
It also discussed the Central Bank’s report on tracking the accounts of government entities in commercial banks and exchange companies, in preparation for closing them and requiring those entities to deposit their funds into the Central Bank.
The meeting addressed financial and administrative reforms and their positive impact on currency stability, in addition to the joint efforts of the Ministry of Industry and Trade and the Central Bank to secure foreign currency, ensure the import of essential goods, and maintain their prices.
The committee instructed the Central Bank governor to schedule salary payments, while assigning the Prime Minister to compel relevant authorities to deposit surplus revenues and profits to cover salary needs.
The session concluded with a discussion of the Ministry of Finance’s report on deficiencies in revenue deposit mechanisms and ways to address them to ensure all state revenues are transferred to the Central Bank in Aden.
