By William Madouk
Minister of Finance and Planning, Marial Dongrin Ater, has announced that all payments for government services and salaries will now be made through bank accounts.
To reduce reliance on cash transactions, Mr. Dongrin said “we are promoting the adoption of mobile money and electronic banking solutions.”
“Going forward, the Ministry of Finance and Planning will be paying salaries and operating costs for ministries, departments, and agencies (MDAs) through bank accounts,” he said yesterday in a press conference.
He added that this initiative will enhance financial efficiency, reduce risks associated with excessive cash circulation and improve transparency.
“The banking sector is expected to simplify procedures for electronic transactions and telecommunications operators to intensify public awareness campaigns on mobile banking services,” Dongrin explained.
According to the minister, these measures are aimed at improving tax revenue mobilization, enhancing crude oil export, securing funding, digitalization & financial inclusion and fostering food security.
He cited that to enhance revenue mobilization, the Finance Ministry and National Revenue Authority teamed up to streamline revenue collection processes and tax compliance.
The minister revealed that significant progress has been made for the resumption of oil production from the Dar Blend in Upper Nile, citing that they are optimistic for a breakthrough.
“We are actively engaging bilateral and multilateral partners for concessional loans and grants to address pressing economic challenges. These funds have already been earmarked to support key sectors and stimulate economic growth,” he noted
On commodities price hikes, Mr. Dongrin said the Ministry of Trade and Industry is leading measures to ensure a steady and accessible supply of essential commodities and other vital products.
“I assure the public that the government is determined to continue strengthening our currency, stabilize the market and foster a conducive environment for economic growth,” he said.
Meanwhile, in a circular, the Bank of South Sudan has directed that cash withdrawals from banks should not exceed SSP 10 million.
“The maximum limit chase withdrawal across all channels at the Bank of South Sudan and all the commercial banks by public sector institutions, government spending agencies, private corporations, and individuals shall not exceed SSP 10,000,000,” said Yeni Samuel, Director General, Directorate of Banking Operations.
Mr. Yeni added that withdrawals exceeding SSP 10 million could only be done either by depositing through a bank account, transfer within the bank industry or through an interbank transaction and mobile money operators.
The Bank encourages all the employees in public and private sectors to open bank accounts.