Maximum Retail Price Order 2022 to be extended |06 October 2023

Cabinet has approved the extension of the Maximum Retail Price Order 2022 on articles purchased from Seychelles Trading Company Limited.

Garlic has also been added amongst the list of the 14 items that fall under this Order.

The approval came during this week’s cabinet meeting chaired by President Wavel Ramkalawan.

During the meeting, a number of policy memoranda were approved.

Speaking at the weekly cabinet press briefing at State House yesterday morning, Vice-President Ahmed Afif explained that the measure was important to ensure that category 1 products and garlic remain affordable and are not excessively priced.

“We saw there was an abuse in the prices of garlic on the market. The item is sold at R6.50 for 250 grammes at the STC, whereas some other places are selling it at R40, which is very high,” he stated.

The enforcement of the Maximum Retail Price will continue until otherwise determined by the government.

Cabinet was also briefed on the notification from India that the country has introduced a 40% export levy on its sale of onions as well as a temporary prohibition on the exportation of non-basmati white rice.

Cabinet has approved that the STC will absorb any increase in price in the meantime that government explores other feasible solutions to guarantee supply.

Cabinet approved the National Technical Vocational and Training (TVET) Policy 2023-2027. The TVET Policy has been designed to provide strategic leadership and guidance to educational institutions in TVET development at the national level over a five (5) year period. It will accelerate implementation of the ongoing reforms and transformation, to produce the skilled, high-quality and competent workforce which is needed for Seychelles’ further economic development.

“There are many foreigners working in areas where if we were to put more emphasis in our education system by providing the necessary training, would allow us to get many locals who today would not necessarily sit for IGCSE exams to get an A, B or C but could contribute in other ways towards the industry,” explained Mr Afif.

Cabinet approved two regulations in line with the Custody, Management and Disposal of Seized, Forfeited or Confiscated Properties Act, 2021. The first regulation prescribes measures to manage, maintain and dispose of properties subject to seizure, forfeiture or confiscation. The second regulation prescribes measures to trace, identify and evaluate the property. Cabinet also approved for the commencement of the Act from October 6, 2023.

“The government thinks there should be an asset management unit whose task would be to know how to manage anything related to the management, maintenance and disposal of assets, to ensure they are in good states at all times, they do not depreciate and are done in the proper manner,” he explained.

Cabinet was also briefed on the outcome of the second National Risk Assessment with regard to Money Laundering and Terrorist Financing. The overall Money Laundering risk for Seychelles is Medium-High and the overall level of terrorism threat is assessed as Low. A public presentation of the findings will be made.

Cabinet was also briefed on the findings of the National Risk Assessment on the Non Profit Organisations. The outcome of this assessment is positive as it found no known cases or suspicions of terrorist financing abuse within Seychelles' Non Profit Organisations sector. The threat of terrorist financing associated with Non Profit Organisations sector in Seychelles was also assessed as low.

Cabinet also approved the Financial Stability Bill (2023) to promote a stable financial system through the creation of the Financial Stability Committee (FSC), which will be a public body charged with monitoring risks and vulnerabilities to the financial system and devising the country’s financial stability policy strategy to manage and mitigate identified risks to financial stability. 

Cabinet approved the Seychelles Intelligence Service (Amendment) Bill, 2023 to allow for land or lease to be registered in the name of the Seychelles Intelligence Service.

According to Vice-President Afif this was not taken into account when the initial law was drafted and government wanted to stipulate this clearly in the act.

Patsy Canaya/ Press release from State House