President Wavel Ramkalawan, chaired a scheduled meeting of the Cabinet yesterday, Wednesday 4th October in which a number of policy memoranda were approved.
Cabinet 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. This measure is important to ensure that category 1 products and garlic remain affordable and are not excessively priced. The enforcement of the Maximum Retail Price will continue until otherwise determined by the Government.
Cabinet was 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.
Cabinet approved the proposal to address the solid waste management through a soft loan from the World Bank. The first component of the project is to improve the solid waste management system and the second component is to provide the enabling environment to promote waste reduction, through engagement with the private sector and the community.
Cabinet also approved the Policy on the Extended Producer Responsibility for the Sustainable Management of Waste scheme to minimize waste in line with the Solid Waste Master Plan 2020-2035. The Extended Producer Responsibility involves the manufacturers, importers, and distributors, taking full responsibility for their products throughout their lifecycle. This approach enables producers to find innovative ways to reduce material use, develop reusable products, or manage materials at their end-of-life by recycling and reintegrating them into the economy in order to minimize waste. Cabinet approved the Water Resources Management Bill (2023). The Seychelles Water Resources Bill aims to enhance water management in the country for economic and social well-being while preserving the ecosystem.
Cabinet approved for the drafting of regulations under the Electricity Bill (2023). These include the Independent Power Producers (IPP) Regulation which outlines how new generating capacities will be procured by Government in a fair and transparent manner; License (Energy) Regulation sets out the process to be followed to enter the electricity sector more specifically to perform any electricity-related activities including the conditions to carry out those activities; Tariff Regulation will provide a clear framework for tariff setting for all parties involved in the sector; Distributed Generation System Regulation will provide legal framework for renewable energy systems installed on the distribution level; and Consumer Service Regulation is related to the relationship of the Licensee (PUC) with its customers, with regards to the commercial quality of service and conditions of services to be provided.
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 6th October 2023.
Cabinet was briefed on the outcome of the second National Risk Assessment with regards 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 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.
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.
