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Sudan to Sell Non-Profitable Public Enterprises

April 19, 1990

KHARTOUM, Sudan (AP) _ Sudan’s military government will put non-profitable public sector enterprises on sale to private buyers, a decree issued Wednesday said.

It did not identify the enterprises but said they include ″all losing, marginal and non-vital economic units in the country.″ It said Arab and foreign investors would be allowed to buy such enterprises that ″failed to boost the public treasury resources.″

The decree by Col. Salah Mohamed Karrar, head of the economics committee of the ruling military junta, said the step was taken to ″stop the deterioration of the economy.″

On May 5, Sudan has a round of talks scheduled with the International Monetary Fund. But the decree said the decision to sell public sector units comes within the government economic reform program and denied it was taken under pressure from the IMF.

Sudan has a foreign debt of $13 billion.

The decree said the units proposed for sale have assets of nearly $416.7 million and owe Sudan’s Central Bank $83.3 million.

Karrar has said the IMF proposed raising the official exchange rate for Sudan’s currency from 4.5 pounds to the dollar to 15 pounds and the free market exchange from 12 pounds to the dollar to 30 pounds.

The IMF talks will be the fourth round since the government of Lt. Gen. Omar Hassan el-Bashir came to power in a military coup last June 30.

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