Azerbaijani MPs: SOCAR must increase transfers to state budget
By Trend:
Azerbaijani MPs deem unreasonable to provide the country’s state oil company SOCAR with budgetary funds for conducting drilling operations at Umid, Karabakh and Babek fields.
Within the adjusted state budget project for 2018, which has been recently discussed at the meeting of the parliamentary committee on economic policy, industry and entrepreneurship, 663 million manats are expected to be allocated to SOCAR for the above-mentioned work.
The Azerbaijani MPs also criticized the decision on allocation of subsidies to SOCAR in the amount of 300 million manats to cover the losses accumulated as a result of the resale of imported gas at a lower price to Azerenergy OJSC.
The MPs also touched upon other areas.
MP Ali Masimli stressed that more than five billion manats is allocated for the construction sector, while low expenses are envisaged for the development of human capital and education.
"This can lead to an increase in corruption,” he said. “The loans allocated under the state guarantees should be thoroughly analyzed. Moreover, I think it is illogical that SOCAR will receive 663 million manats from the state budget to increase the authorized capital in connection with the drilling work. SOCAR must increase transfers to the state budget, rather than get financial assistance."
According to the draft amendments to the law "On the State Budget for 2018", the forecasts for revenues and expenditures of the state budget for 2018 are planned to be increased.
According to the draft, state budget revenues are expected to be increased by 1.983 million manats (9.9 percent) to 22.110 million manats, expenditures - by 2.014 million manats (9.6 percent) to 23.061 million manats.