24 Mio RON Left To Spend From The Gas Fund

A.N.
Ziarul BURSA #English Section / 5 februarie 2009

The very steep increase in the international price of oil and gas in 2007 and 2008 helped domestic gas producers Romgaz and Petrom generate quite a hefty profit. Reacting to such prosperity, the Government decided to set up a social gas fund designed to offer additional help to economically challenged families and individuals using natural gas as heating fuel. After signing the related agreements with the Ministry of Finance, Petrom and Romgaz contributed a total of 172.4 million RON to the fund.

Representatives of the Ministry of Finance and the two gas producers specified that Petrom had contributed 80 million RON, while Romgaz had contributed 92.4 million RON. According to information released by the Ministry of Finance by 31 December 2008, some 148.3 million RON had been disbursed as social aid for February, March, November and December 2008.

"The balance is now 24.1 million RON. since the ordinance regulating the establishment of the fund and the agreements signed with the two companies were in effect only in 2008, Emergency Ordinance of the Government no. 226/2008 carried forward the funds collected and not used in 2008 to 2009, for the same purpose," Ministry officials told BURSA.

The Ministry of Labour is in charge with collecting the contribution and making payments to persons in need of social security. According to the aforementioned normative acts, the two gas producers do no need to make any additional payments for 2009.

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