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Cader Sayed Hossen, "Maurice, Future Oil Rig"

20 July 2012 - Défi Media Group

Cader Sayed Hossen, "Maurice, Future Oil Rig"

Taking stock of the first six months of 2012, the Minister of Trade and Industry, Cader Sayed Hossen-unveiled the government's intention to build an oil terminal at a cost of Rs 2 billion.

Moreover, the manufacturing growth should not exceed 2% this year, said the minister.

This terminal is still in draft form, should have a capacity of 150,000 tons, and added to the current capacity of 120,000 tons, Maurice should be able to store a total of 270 000 tonnes of liquid petroleum products for local consumption and export .

"We want to make Mauritius an oil hub, which should have significant economic benefits for the country," said Minister Cader Sayed Hossen-. For example, he explained that a tanker, from refueling from an oil platform, spends an average of Rs 55 million per day. A financial windfall for the Mauritian economy. Thus, this terminal should ensure our energy security and attract countries in the region. A High-Powered Committee will examine the viability of this project.

In terms of industry, Cader Sayed Hossen-predicted growth of 1.9% for manufacturing export. This is due to the economic crisis affecting the demand for local products. He stressed that to meet the current competition, the country must make an industrial shift, exceeding the framework of the three sectors are textiles, seafood or jewelry.

The focus will be on market diversification according Cader Sayed Hossen-. Enterprise Mauritius will hold until the end of this year more than twenty activities. Two "liaison officers" will also be posted in Africa, including South Africa and Tanzania.

In that it is the sector of trade and consumer protection, the Minister announced the establishment of a National Consumer Council and a Consumer Dispute Mechanism.

He also announced the next lower rate of interest on the installment sale. "In 24.8%, the annual rate should increase to 19%," he said. The Hire Purchase Act should be reviewed at the same time. A first recommendation is expected by the end of August on the subject.

 

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