The Supreme Resources Committee Affirms Reform Continuity and Warns Against Currency‑Rate Manipulation

President Aidarous Qassem Al-Zubaidi, President of the Southern Transitional Council (STC), Vice Chairman of the Presidential Leadership Council (PLC), and Chairman of the Supreme Committee for Sovereign and Local Resources (SCSLR), presided over the committee's regular meeting in the capital, Aden.

At the beginning of the meeting, the committee reviewed progress on directives issued in the previous meeting, particularly the measures taken to provide the required funding to operate the Aden refinery and the refinery's start in producing asphalt locally and the cessation of its import, in addition to the efforts made to secure the needs of power plants and the progress made by the authorities tasked to secure funding for electricity generation fuel in the capital, Aden, and the liberated governorates during the next two months.

The committee focused on the latest local developments and the ongoing reforms within sovereign revenue institutions aimed at fully restoring state control over public resources. In this context, the committee commended the great efforts made by the Ben Brik government to revive the currency exchange rate, lower commodity prices, and support the Central Bank in regaining control over the financial and banking sectors.

The committee also lauded the measures taken by the Central Bank with the support of the government and various state bodies, which have achieved a tangible improvement in the exchange rate of the local currency and its positive impact on the prices of goods and services.

In this respect, President Aidarous Al-Zubaidi, Chairman of the committee, directed the Central Bank and the government to take all strict measures to preserve the gains achieved, foremost among them being the stabilization of the exchange rate of the local currency according to the official rate approved by the Central Bank, and there would be no tolerance towards anyone attempting to manipulate exchange rates or trade currency on the black market.

The committee further discussed the positive results of the improved exchange rate on commodity prices and reviewed a detailed report from Industry and Trade Minister Mohammed Al-Ashwal outlining steps to regulate markets, implement daily inspection campaigns targeting commercial markets and essential goods suppliers, and coordinate with relevant authorities to enhance the ministry's oversight role.

The committee applauded the significant efforts made by the Ministry of Industry and Trade, the security services, and local authorities in the governorates and districts in following up on the monitoring of markets and lowering prices, and their role in holding manipulators accountable, praising the substantial cooperation shown by merchants and their commitment to lowering prices in line with the improvement in the currency exchange rate.

At the end of the meeting, President Aidarous Al-Zubaidi directed the Central Bank and the government to expedite the disbursement of June salaries to public sector employees.