Presidency  of STC calls on government and Central Bank to address currency and price situation and confirms its support for its implementation

The Presidency of the Southern Transitional Council (STC), on Monday, held its periodic meeting, headed by Major General Ahmed Saeed Bin Brik, Acting President of the Council, Chairman of the National Assembly.

In its meeting, the Presidency discussed the economic reports submitted by the Supreme Economic Committee and the Economic Department of the General Secretariat, which included a number of proposals and directions to be implemented by the government and the Central Bank to control the economic situation, and to control the value of the currency, the prices of basic materials, and the oil derivatives.

The Presidency confirmed the readiness of the Council and its ministers in the government to provide all aspects of support and assistance to make the government’s work a success, and to lead the new central bank to revive the deteriorating economic situation and provide services to the citizens, stressing the need to interact with the proposals that the ministers of STC in the government will put forward in this regard, and the readiness of the Council to provide any requirements that support the implementation process to alleviate the suffering of the citizens.

The Presidency also stressed the need to expedite the completion of Aden Refinery power plant, and to pre-evaluate the status of the network and its extensions to ensure the operation of the refinery upon completion of the task without any obstacles, as well as the need to develop urgent solutions from now to avoid a recurrence of the power outage crisis next summer.

The Presidency reiterated the need to avoid unilateral appointments, to work in harmony to issue any decisions for the government, or the authority of legitimacy, and the continuity of the local authority in the capital, Aden, in its effective efforts to control the prices of basic materials in coordination with the Chamber of Commerce and Industry, and regulate and control authorities to stabilize them.

The Presidency called on the new Central Bank’s leadership to quickly activate the effective supervision and control over the performance of banks, exchange companies and facilities, and to take strict measures to stop their currency speculation, stressing the readiness of STC to provide any required support to help the government, the bank and the prosecution in the control process for the success of this task.

In this context, the Presidency stressed the need to review the import mechanism for oil derivatives, stop the process of importing non-essential materials in these exceptional circumstances, and evaluate experience of liberating the prices of oil derivatives in a manner that ensures their stability, and compatibility of their prices with international prices, and put an end of speculation in them out of greed at the expense of the suffering and pain of citizens.

During its discussion of the decision-making support center report, the Presidency stressed the need to synchronize anti-corruption measures with any economic measures to ensure their success, and to adopt standards of efficiency and integrity in all appointments instead of loyalty standards that brought the country to a disastrous situation.

In this meeting, the Presidency also stood before the results of the meetings of the Acting President of the Transitional Council, Chairman of the National Assembly, with a number of societal components, reiterating the STC’s commitment to its calls for continuous dialogue with the various southern national forces to achieve unity in the face of conspiracies being hatched against the south, stressing its welcome and encouragement to continue these meetings to achieve the desired goal.

In its meeting, the Presidency reviewed the latest developments in Hadhramout governorate, praising the popular movements against the organized tampering with the governorate’s resources and looting its wealth, stressing its support for the Hadrami popular movement to stop this depletion of the wealth and resources of Hadhramout, and all the governorates of the South, and in the context, stressed the need to submit to the demands of the people of the governorate and to collect and supply all resources to the central bank in the capital, Aden, and to direct it to address the general needs of the country, and stop its draining by corruption lords away from the government’s authority, and its budget and control.

The Presidency also discussed a number of other reports related to the organizational and administrative aspects of the work of the bodies of STC, and approved what was needed in their regard.