The Sudanese Minister of Minerals, Ahmed Mohamed Al-Sadiq Al-Karouri, revealed new policies for the purchase and export of gold, which allows the private sector to export 50% of the quantities it buys with the discretion of its revenues and sell the other 50% to the Central Bank of Sudan (CBS).
Al-Karouri announced the new policies for the purchase and export of gold during an expanded meeting, on Thursday, with Governor of the CBS, Hazem Abdul Qader, Chairman of the Federation of Employers, Saud Al-Barir, President of the Union of Chambers of Commerce Youssef Ahmad Yousif and Chairman of the Al-Sagha Association, Abdullah Al-Jack.
He added that the new policy has given greater impetus for mining waste companies, adding that in the past it was allowed for companies to export 15% of its production and sell the remaining 85% to the Central Bank. He pointed out that this new approach allowed the waste companies to export 60% of the production and sell the remaining 40% to the CBS at the current price.
He stressed that they will control most of the production of gold through these measures, and thus reduce the phenomenon of smuggling, pointing out that these measures will encourage the introduction of new companies to enter the sector, and increase the production of old companies operating in this sector.
The Governor of CBS, Hazem Abdul Qader, said that the bank will issue the publication to allow the private sector to buy and export gold, stressing that they are ready from next Sunday, to accept any requests from companies, individuals and business names for the export of gold.
He revealed that this step comes to enable the private sector to contribute effectively and enhance its role in the development of the economic sector.