HH the Emir Presides Over Economic Affairs and Investment Supreme Council Meeting

Doha, May 13 (QNA) - HH the Emir and Chairman of the Supreme Council for Economic Affairs and Investment Sheikh Hamad bin Khalifa Al-Thani presided over the Council's second meeting of 2012, held today at the Emiri Diwan. The meeting was attended by HE the Prime Minister, Foreign Minister and Executive Member of the Council Sheikh Hamad bin Jassim bin Jabor Al-Thani. HE the Minister of Economy and Finance Youssuf Hussein Kamal said in a statement to Qatar News Agency(QNA) that the council discussed topics on the agenda and took the appropriate decisions. He added that the Council was briefed on a provision pertaining the follow-up of the Council's previous decisions and relevant measures taken on them, especially projects of Qatar Petroleum International and its current situation with regard to the company's organizational activities, the latest developments in the field of oil exploration, development and production, gas, electricity and petrochemical sectors, noting that HH the Emir directed the concentration on these projects and their implementation according to their set time schedule. HE Youssuf Hussein Kamal said the Council agreed on redressing the deficit in the civil and military retirement fund, estimated at QR 46 billion, most of which was due to the increase in employees' salaries. The Council was briefed on two draft laws on Qatar Central Bank and the regulation of financial institutions and Qatar Financial Market Authority and took note of the latest developments with regard the development and regulation of financial services in the state, through the development of Qatar Central Bank law, especially in the field of banking confidentiality, HE the Minister of Economy and Finance said. He added that HH the Emir directed that necessary measures to this effect are to be taken. The Council listened to two presentations on the foundation of a billion Qatar Riyal public shareholding contracting company and the establishment of an infrastructure institution in the Arab world, Kamal said explaining that the Council requested the preparation of a study on the two projects.(QNA)