Supreme Resources Committee Emphasizes Obligating All Government Bodies to Deposit Revenues at the Central Bank

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 sixth regular meeting on Tuesday in the capital, Aden.

The meeting began by reviewing progress on implementing outcomes of the previous meeting; key among these decisions was a report from the Ministry of Oil and Minerals to refine 6,000 barrels of oil per day in the Aden refinery as a first phase. In this regard, the Minister of Oil confirmed that the refinery has already started operating the asphalt production unit, stating that the ministry is working around the clock to launch the initial phase and is finalizing procedures for a loan needed to operate the refinery at full capacity.

The meeting reviewed the Central Bank's report on the implementation of the previous mandate to provide the Prime Minister with a detailed list of government accounts at commercial banks and exchange companies in preparation for taking the necessary measures to close them and force those banks and companies to implement the decision.

The meeting focused on financial and administrative reforms implemented by the committee, the Central Bank, and the government, and their positive impact on the value of the local currency, and urgent measures to maintain the stability of the exchange rate and prevent any increase during the remaining months of the current year, 2025.

In this context, the meeting listened to a report from the Minister of Industry and Trade, member of the National Committee for Import Finance and Regulation, Mohammed Al-Ashwal, on the meeting held by the committee with importers and the efforts made by the committee, led by the Central Bank Governor, to provide hard currency to secure the import of essential goods, maintain the strategic stock of them, and ensure their continued availability in the markets at stable prices to meet the needs of citizens and maintain food security.

The committee directed the Central Bank Governor to schedule the disbursements of salaries, and simultaneously, the Prime Minister was tasked with instructing ministers to compel affiliated institutions, companies, and banks to transfer surplus operational funds and interests to the Central Bank to cover salary payments.

At the end of the meeting, the committee received a report from the Deputy Finance Minister outlining systemic issues and existing imbalances in the central and local revenue supply mechanism and the reforms required to halt violations and ensure all government revenues are deposited into the Central Bank in the capital, Aden.