Today, Thursday, the Parliamentary Finance Committee confirmed that the Ministry of Finance has retracted its intention to implement the petro-dollar article.
Al-Waeli’s office said in a statement received by the “National News Center” that “a member of the House of Representatives, Majed Al-Waeli, attended today’s meeting to host (the Minister of Finance) and a number of the ministry’s advanced cadre to follow up the ministry’s procedures in implementing the provisions of the budget law (23) for the year 2021.”
Al-Waeli confirmed, according to the statement, that “the most important outcome of the meeting is the (Ministry of Finance)’s retreat from its orientation not to implement the petro-dollar fund article, which it took as a result of the incorrect interpretation of this article,” adding, “We have clearly explained to the minister the correct interpretation and the legislator’s intention regarding it, and we have provided the ministry with a book An official that includes the correct interpretation of the petro-dollar fund article.
He added, "The implementation of this article moves the wheel of reconstruction and economic development for the oil-producing governorates, provides job opportunities and provides services to the citizen."
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