2012 budget to include “significant investment” plans

MoF behind proposal of dividing electricity bill funds, says Minister Safadi

Minister of Finance Mohamad Safadi said that the concept of dividing the $1.2 billion funds allocated for the electricity bill in four installments was suggested by the Ministry of Finance (MoF).

Safadi said that the adopted mechanism involves including the cost within the public budget plans of the three coming years. He said that the plan “does not burden the 2012(draft) budget which already includes significant investment expenditures in the fields of building dams, installing gas pipes, and building roads.”

Safadi said that he has initiated talks with Arab and Islamic funds to finance the upcoming stages of the electricity plan.