Announcements

The government issued Decree for Reinstating the Mechanisms to Import Fuel through the Aden Refineries Company


Introduction
To Cabinet Decree No. 49 of 2019
Regarding
Reinstating the Mechanisms to Import Fuel through the Aden Refineries Company and Distribution Mechanisms to All of the Governorates of the Republic of Yemen

The government issued Decree No. 49 of 2019 in implementation of the economic policy that was approved by His Excellency the President of the Republic of Yemen for the government. The most important objectives of this decree included curbing illegal trade of fuel in Yemen, increasing state revenues, activating the financial and service-providing institutions of the state, maintaining the stability of the local currency, and increasing the value of the local currency in order to improve the humanitarian situation in all parts of Yemen and alleviate the suffering of all Yemenis.

Cabinet Decree No. 49 of 2019 was based on the results of the report evaluating the implementation of Cabinet Decree No. 75 of 2018, and both decrees are complementary in achieving their purely economic objectives.

Cabinet Decree No. 49 of 2019 aims to achieve the following objectives:
1. Curbing the illegal trade of fuel in Yemen
2. Reactivating tax and customs laws and increasing state revenues
3. Improving the competitive environment and finding commercial alternatives that ensure that there are no fuel crises in any part of Yemen by providing fuel at appropriate prices.

Cabinet Decree No. 49 of 2019 and its executive mechanism does not take away the right of the Yemen Petroleum Company or any Yemeni trader to import fuel directly from the market in accordance with the provisions of Decree No. 75 of 2018 and its executive mechanisms as long as they pay the legal fees to the state and get a technical inspection certificate from the Aden Refineries Company to show that their shipment of fuel meets the technical standards of imported fuel and is from a legal source.

In accordance with Decree No. 49 of 2019 and its executive mechanism, all traders and companies can trade in fuel in all of the governorates of the Republic of Yemen as long as they purchase this fuel from the Aden Refineries Company and adhere to its controls and mechanisms.