ENERGY

Sudan lifts three oil product subsidies

Drivers queue up in their vans for fuel at a gas station in the Sudanese capital Khartoum. (AFP)

Sudan’s finance minister lifted state subsidies on three oil products -- fuel oil, jet fuel and gas -- state news reported him as saying on Tuesday.

The finance ministry announced the lifting of subsidies on “petroleum products -- fuel oil, jet fuel and gas,” state news agency SUNA said on its website.

The move cancelled “all the administrative restrictions and fees and taxes” and opened the field to the private sector.

“The government’s withdrawal of subsidies came at an appropriate time when global prices have fallen in an unprecedented way,” SUNA quoted Finance Minister Badreldien Mahmoud as saying in a meeting with the oil ministry.

The minister had previously said he would not lift subsidies on products in 2016 when he announced his budget for the year.

In September 2013, the government slashed fuel subsidies, sparking street protests as retail prices soared by more than 60 percent.

Dozens of protesters were killed in the ensuing crackdown.

Sudan’s economy was badly hit in 2011 when South Sudan gained its independence and took nearly three quarters of the formerly united country’s oil resources with it.

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Last Update: Wednesday, 27 January 2016 KSA 12:47 - GMT 09:47
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Sudan lifts three oil product subsidies
In September 2013, the government slashed fuel subsidies, sparking street protests as retail prices soared by more than 60 percent
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