Jordan: Cabinet endorses 2009 budget draft law |
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AMMAN - The government on Tuesday approved the state budget draft law for 2009, estimated at around JD5.9 billion, Minister of State for Media Affairs and Communications Nasser Judeh said.
During its weekly meeting, "the Cabinet listened to a briefing on the 2009 state budget by Minister of Finance Hamad Kasasbeh and endorsed the draft law in order to be referred to Parliament for debate", Judeh told reporters after the session.
The official added that the government also discussed prospects of changing the mechanism of fuel derivative pricing, which currently is done on a monthly basis.
"The government is expected to issue a new mechanism of updating fuel prices soon," Judeh said, adding that the council discussed the pros and cons of the decision to ensure its feasibility.
Prime Minister Nader Dahabi on Monday said the government is studying the possibility of a new mechanism to update prices of oil derivatives within a shorter time frame than the one-month span that is currently used.
As it stands now, a pricing committee from the ministries of finance and energy and the Jordan Petroleum Refinery CompanyJordan Petroleum Refinery Company
convenes on the 25th of each month and sets the prices of oil derivatives based on international prices.
By Hani Hazaimeh
© Jordan Times 2008
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