The Eritrean Cabinet of Ministers today held meeting at State House.
Asmara, 15 October 2014 – The Eritrean Cabinet of Ministers today held meeting at State House. In its morning session, the Ministerial Cabinet made in-depth assessment, on the basis of the discussion paper presented by President Isaias Afwerki, of the subsidy policies adopted with a view to reinforcing economic development endeavors and ensuring supply of major consumer items vis-à-vis the impact thereof in the balance of payments. In this regard, the meeting conducted extensive deliberations on the review and adjustment resorted to as regards the subsidy policies.
In the course of the deliberations, explanation was given concerning the current rational adjustment being introduced in reference to the price, purpose and use of fuel, along with the requisite review and assessment whenever justified.
In this connection, the Ministerial Cabinet meeting conducted discussion pertaining to the vital responsibility of follow-up institutions in applying unified and coordinated control measures so as to protect the general consuming public from illegitimate price hike of basic commodities.
Following extensive discussion regarding the mapping out of comprehensive and complementary plans dealing with the issuance of new trade licenses, the meeting adopted the requisite resolutions vis-à-vis reinforcing the national currency and its role in the purchase of strategic consumer items.
Moreover, the meeting heard report of work accomplishments by the Ministries of Energy and Mines, Local Government, Land, Water and Environment, Education, Agriculture and Marine Resources.
The respective reports mainly highlighted work accomplishments registered in 2014 with a view to providing impetus to economic growth and development along with the constraints encountered in the process. The reports also highlighted the development road map for 2015 and the required budget.
The Ministerial Cabinet meeting is scheduled to continue tomorrow.