Home | News    Wednesday 6 February 2013

Sudan’s Central Bank makes $80 million available to pharmaceutical companies

separation
increase
decrease
separation
separation

February 5, 2013 (KHARTOUM) – The governor of Sudan’s Central Bank (CBoS) Mohamed Kheir Al-Zubair announced today that his institution will provide $80 million in hard currency to pharmaceutical companies amid big increases in drug prices.

JPEG - 31 kb
Mohamed Kheir Al-Zubair, governor of Sudan’s central bank (REUTERS/Mohammed Dabbous)

Salah Kambal, the chairman of Sudan’s Drug Importers Chamber hailed CBoS’s move saying it will help stabilize prices but warned that it will only be felt if local pharmaceutical companies that went out of business can restart production.

He pointed out that these companies, which were forced to shut down over lack of hard currency, will help cover the shortfall in the supply of certain drugs thus eliminating the need to import them.

Some observers however argued that the big jump in drug prices exceeded the increase in the exchange rate of the dollar against the U.S. dollar.

On Tuesday the governor of Khartoum Abdel-Rahman Al-Khidir convened a meeting with parties of interest in the issue of drug prices where he acknowledged the extent of the problem and vowed to do everything in his power to reverse the trend in collaboration with the federal government and CBoS.

He stressed that medicine should be treated as a priority similar to petroleum and wheat suggesting that authorities could resort to imposing a price ceiling to prevent increases in drug prices.

Sudan is battling its biggest economic crisis for decades as it struggles with a severe shortage of hard currency following the loss of three quarters of its oil production due to South Sudan’s independence in 2011.

Oil revenues were the main source of revenue for Sudan’s budget and for foreign currency needed to pay for vital imports including food and medicine.

The Sudanese pound has more than halved in value since the country was partitioned.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Sudan’s Civil Disobedience: Africa’s latest "Hashtag Revolution"? 2016-11-30 06:14:21 by Suliman Baldo November 29, 2016 “Because of the nature of the dictatorship we are under, you are forced to embrace the use of social media, . . . It’s not secure to try and use the tactics (...)

IGAD : why not a South Sudanese head? 2016-11-29 05:38:32 By Amb. Dhano Obongo Intergovernmental Authority on Development (IGAD), in Eastern Africa Community was formed in1996 succeed the Intergovernmental Authority on Drought and Development (IGADD) (...)

SLM Al-Nur to U.S. Booth: ’Negotiations by Khartoum are illusory’ 2016-11-28 15:46:50 ATTN: U.S. Special Envoy for Sudan and South Sudan; Ambassador Donald Booth by Abdul Wahid al-Nur Sir, Your calumnious editorial scapegoating me as the primary obstacle to peace in Darfur is so (...)


MORE






Latest Press Releases


Amnesty urges to investigate chemical weapons Sudan’s Jebel Marra 2016-10-12 12:52:01 Sudan: International chemical weapons investigation urgently needed into horrific Jebel Marra attacksAMNESTY INTERNATIONAL NEWSFLASH 11 October 2016 Sudan: International chemical weapons (...)

UNAMID JSR’s statement read to the media on peace in Darfur 2016-10-10 20:57:56 African Union United Nations Mission in Darfur Though the region of Darfur is relatively peaceful at this time, a small portion of Jebel Marra within Darfur continues to be intermittently (...)

Sudan: No justice for protester killings 2016-09-23 08:03:30 (Nairobi, September 22, 2016) – Sudanese authorities have yet to provide justice to victims of a violent crackdown on anti-austerity protesters in Khartoum in September 2013, the African Centre (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.