12-17-2013, 02:48 AM
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Finance Minister stresses Total must alter LNG price as of 2014
[16/December/2013]
SANA'A, Dec. 16 (Saba) - The Finance Minister stressed on Monday the need for the French Total Company to implement the agreement made recently on altering price of the Yemeni Liquefied Natural Gas (LNG) from the beginning of 2014,
Sakhr al-Wajih said that if Total did not, the government may be forced to take measures to guarantee the interests of the Yemeni people.
The Minister made the statement during an official session talk held in Sana'a on Monday between Finance Ministry and US treasury Department.
The agreement made by the former government deprived Yemen of the optimum utilization of the Yemeni LNG sales, al-Wajih said, adding that only $300 million enter into the public treasury per a year, while the LNG sale according to the international prices will enable Yemen to obtain an estimated $1 billion annually.
During the session, the Finance Minister gave a detailed presentation of the overall reforms undertaken by the government within its strategy aiming to raise the public finances efficiency and implement a package of bold economic reforms in cooperation with the International Monetary Fund (IMF) and many other donors.
The government, represented by the Finance Ministry, has managed to make many achievements, such as reducing domestic debt, stabilizing the exchange rate of the dollar against the national currency and lessen the inflation rate to 11 %, al-Wajih said.
He pointed to the importance of that the US aid to Yemen to be concentrated on financing labor-intensive projects on public works and to help Yemen to overcome the current financial challenges.
He underlined the government's insistence to continue to carry out the financial and economic reforms agreed upon with donors and included in the mutual accountability document approved in the Riyadh donor meeting.
The US Treasury Department delegation's head stressed the US administration's adherence to provide all aspects of support required to strengthen the Yemeni government's efforts to implement financial and economic reforms, hailing the achievements made in this regard during the past two years.
The two sides reviewed several issues concerning to the economic and financial reforms in Yemen and the trends of the US relevant aid to Yemen.
AF
Saba
SANA'A, Dec. 16 (Saba) - The Finance Minister stressed on Monday the need for the French Total Company to implement the agreement made recently on altering price of the Yemeni Liquefied Natural Gas (LNG) from the beginning of 2014,
Sakhr al-Wajih said that if Total did not, the government may be forced to take measures to guarantee the interests of the Yemeni people.
The Minister made the statement during an official session talk held in Sana'a on Monday between Finance Ministry and US treasury Department.
The agreement made by the former government deprived Yemen of the optimum utilization of the Yemeni LNG sales, al-Wajih said, adding that only $300 million enter into the public treasury per a year, while the LNG sale according to the international prices will enable Yemen to obtain an estimated $1 billion annually.
During the session, the Finance Minister gave a detailed presentation of the overall reforms undertaken by the government within its strategy aiming to raise the public finances efficiency and implement a package of bold economic reforms in cooperation with the International Monetary Fund (IMF) and many other donors.
The government, represented by the Finance Ministry, has managed to make many achievements, such as reducing domestic debt, stabilizing the exchange rate of the dollar against the national currency and lessen the inflation rate to 11 %, al-Wajih said.
He pointed to the importance of that the US aid to Yemen to be concentrated on financing labor-intensive projects on public works and to help Yemen to overcome the current financial challenges.
He underlined the government's insistence to continue to carry out the financial and economic reforms agreed upon with donors and included in the mutual accountability document approved in the Riyadh donor meeting.
The US Treasury Department delegation's head stressed the US administration's adherence to provide all aspects of support required to strengthen the Yemeni government's efforts to implement financial and economic reforms, hailing the achievements made in this regard during the past two years.
The two sides reviewed several issues concerning to the economic and financial reforms in Yemen and the trends of the US relevant aid to Yemen.
AF
Saba