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lunedì 26 agosto 2013

The Arabic daily Ennahar reveals how Rebrab has "plundered" the State


According 360.com Algeria,
It's hard in that the riots of the oil and sugar in 2011
To avoid the scenario of riots in January 2011, the state grants exemptions 9000000000000 monopolies sugar.

Trade Minister Mustapha Benbada told the Arabic daily Ennahar El Jadid, the Treasury spends annually about 3,000 billion dinars, or about 30 billion dinars in terms of subsidy "hidden" from 2011. This represents exemptions from customs duties and VAT on the import of raw materials for the production of both general consumer goods, oil and sugar. The total budget for the purchase of social peace will be about 9,000 billion dinars at the end of the year, according to the same source.
Much of this funding feeds power to the accounts of the head Cevital Isaad Rebrab group, which owns most of the monopoly in the market for oil and sugar.
In addition to coverage by the Treasury of customs duties (30%) and VAT (17%), the state has had to pay 250 billion in cents (ie 250 million Algerian dinars) as compensation inherent in the rise in prices on the market global soybean production. This additional amount was intended to stabilize the price of 5 liters of oil to 600 dinars (€ 6.00) in the domestic market. Are traders benefit from this grant. The continuation of this policy of subsidies, despite the fact that during these raw materials have fallen to a very low level in the international market, provides an opportunity for the operators of a monopoly on these products to make huge profits. However, the government has neither the will to stop the subsidies and even less to recover the money paid in relief all round. The proof is that the department Benbada has never set the level of prices of sugar and oil in the international market from which the Treasury must collect exemptions.
Under the Finance Act 2013, "the Ministry of Finance or the Treasury may recover some or all of the exemptions granted to importers of sugar when it was found that the price of this raw material have dropped to a very low level on the international market," says Mustapha Benbada.
But, however, has recently pointed out, this can not be done now, because "there is no collapse of prices, as the prices are acceptable and only relatively low compared to the year 2011. If the Treasury decides to recover customs duties that were 30% and VAT (17%), the amount will reach 90 million dinars. "And if these drivers work overload their purchases? M.Benbada refuted this inventory. "There are few in number, 2-3 operators active in the sugar sector and six in edible oils," ie monopolize this sector alone and suddenly, the Algerian market.
"They can not cheat, because we have to look at them on sight and are closely monitored by the tax administrations and finance", reassures. This is the National Agency for the Promotion of Foreign Trade (Algex), which has a membership with the British news agency (Reuters) following the goods of mass consumption and transmits the report progress weekly courses for the Ministry of Commerce, then the government. We must remember that the government has decided on 8 January 2011 to eliminate "temporarily" some taxes on sugar and cooking oil to curb rising prices and riots in several cities in Algeria.

Issad Rebrab.