⛽️ Fuel prices soar

and a proposal for the increase of the minimum wage.

De Brief
February 06, 2023

Fuel prices have sharply increased at midnight, with higher prices at oil companies SOL and Rubis compared to GOw2. This comes after a weekend of turmoil at the gas stations because SOL had claimed to have run out of fuel while other sources claim they were hoarding fuel for the higher prices due to their outstanding debt.
GOw2 and Rubis were the only ones open to the public leading to long lines everywhere.
Unleaded fuel price at Rubis and SOL are SRD 33.15 and SRD 33.91, respectively. At GOw2, however, prices are lower than both Rubis and Sol, as unleaded fuel costs SRD 31.05 from SRD 27.89.
Diesel will be sold at SRD 28.49 per liter at GOw2, SRD 31.15 per liter at Rubis, and SRD 31.43 per liter at SOL.
Sales price will be determined for each shipment and pump price includes VAT, leading to a lack of uniform prices.
This comes after the government has decided to remove the subsidy on fuel prices and instead opt for targeted subsidies (subject subsidy) through their welfare programs.

Former President Desi Bouterse

In recent developments in the case of Desi Bouterse who is being tried for murder, acting Prosecutor General Carmen Rasam has demanded 20 years of unconditional imprisonment against Bouterse.
Bouterse has disagreed with the verdict, filing an appeal stating that there was no premeditation as well as stating that court documents have been omitted which could be in his favor.
According to the prosecution, however, Bouterse has been secretive and has concealed many factors of the case that could easily be proved by civilian witnesses, military witnesses, and co-defendants stating that the December murders took place on Bouterse’s orders.
The prosecution has argued that the executions were carefully planned out as Bouterse was not willing to return government power to the people and saw any societal resistance as a threat. As such, actions were taken to eliminate threats.
While Bouterse argues that there was an imminent invasion in the country and that the executions were ordered by the former military commander, Paul Bhagwandas, this evidence has remained unsupported by any evidence during the preliminary investigation or the trial.

According to the National Wages Council (NWC), the minimum hourly wage of SRD 20 should be increased to at least SRD 35 and a maximum of SRD 38.50.
The government assumes a poverty line of SRD 6,000 net for a family of four; 2 adults and 2 children. As such, the Poverty Line Commission of the Ministry of Labor, Employment, and Youth Affairs has calculated that the net poverty line for a family is over SRD 12,000.
As part of its social program, the government is helping out poorer families with SRD 1,800 per month.
The government will make the final decision next week based on this recommendation. This came from an analysis that considers the payment capacity of companies, the income needs of employees, and ABS (Algemeen Bureau voor de Statistiek) statistics The Algemeen Bureau voor de Statistiek is Suriname’s Bureau of Statistics.
According to the ABS, the minimum wage should’ve taken effect on February 1st. Furthermore, the NWC advises recalculating the minimum hourly wage in the second half of the year, to take into account the influence of value-added tax (VAT).
The minimum wage is meant to protect workers from low wages and must be designed to complement and reinforce other measures in social and employment policy.

Personnel law has remained a hot-button issue in the country in recent days, in particular the “no work, no pay” aspect.
While the government has stated that it will not pay salaries to civil servants who have not registered for the mandatory registration, members of parliament have argued against it.
Stating that the government will abuse the “no work, no pay” part of the Personnel Act to carry out Public Sector Reform in the country. Some members object to the principle and prefer that the government includes rules and conditions for the application. The chairman of the committee stated that the salary will still be paid in certain circumstances.
Opposition members from the NDP (National Democratic Party) have argued that the government should encourage registration rather than making it mandatory.
One member asked for attention from the civil servants who have not received a salary for 8 months, while another member proposed to delete the article and encourage registration.
Yet another member asked for attention to the early retirement of civil servants who have completed their service.
The law allows the government to retain salaries of employees who are not registered with the Personnel law and are not working due to various reasons.

Rosebel Gold Mines in Suriname

Iamgold Corp. has sold 95% of its stake in Rosebel Gold Mines NV today. Zijin Mining Group Co. Ltd. is the new owner after paying approximately US$ 360 million in cash and releasing equipment lease obligations from Iamgold for approximately US$ 41 million.
The remaining 5% stake in Rosebel remains in the hands of the Surinamese government. This ends the sale which was announced in October 2022. The mine is expected to produce 6.1 tons of gold from February 2023 to December 2023.
The Canadian company has sold Rosebel as part of its strategy to create value for stakeholders and finance the Côté Gold project in Canada.
The mines have mineral resources estimated at 196 million tons, equivalent to 217 tons of gold, which has been matched with an investment estimated to be $570 million.
Zijin Mining is a large Chinese multinational focused on the exploration and development of several minerals from gold to zinc.

KLM airplane

KLM has lifted its recent embargo and will now resume regular cargo transportation from Suriname to the Netherlands.
Entrepreneurs who transport cargo are relieved that the situation has returned to normal as KLM is needed for export-driven businesses. If the problem had persisted, the consequences would have been severe.
Lifting the embargo allows Air France KLM Cargo to support the development of the local economy in Suriname as the economy is heavily import-reliant.