SP 972 mln allocated for the 2013 Daraa projects

Local Administration circles in Daraa province have set its capital expenditure budget at SP 972 million for the 2013 investment plan in all fields in the province.

Mr.Dahi al-Krad, Planning Director in the province, said: “projects in fields of education, health, culture, social affairs, sport are being carried out within the framework of the province's plan under signed contracts.”

From January 2012 through November, the expenditures on Education directorate’s projects estimated at SP20 mln out of SP 36mln. While that of technical services reached up to SP.178.5mln out of SP 820.2 mln.

"the health projects’ expenditures hit SP 44.8mln out of SP 105.6 mln.  However, SP12mln out of SP21.4 mln was spent on sport projects within the aforementioned period," Mr. al-Krad clarified.

"expenditures of the city council’s projects including that of road, construction, lightening, gardens, sewage, and extinguishing fire reached up to SP 11.6 mln out of SP 40 mln,"added al-krad.

He  asserted that ,until the beginning of December, around SP 85mln out of SP115.2mln was spent on agriculture Directorate’s projects, noting that water projects’ expenditures hit SP 180.4mln out of SP330mln.

In 2012, SP21 mln plus  SP4mln were allocated for the culture directorate’s expenditures , environment and social affairs’ ones respectively. But these approbations have not spent due to current crisis in  Syria .

Basma Qaddour

SP 2.2 Bln for Industrial Investment in 2013

The investment credits for the next year has decline to the half in harmony with the government's plan to rationalize the investment and production expenditure according to the basic needs of citizens and ensure the necessary production plans in the government and private sectors taking into consideration the foreign economic pressure whereas the credits of the investment plan decreased to SP 2, 2 bln,

a source at Industry Ministry said.

Director of Planning at the Industry Ministry, Reem Hilli, said that the Chemical Establishment is number one as for its allocations of credit which estimated at SP 498 mln, the Engineering Establishment SP370 mln, the General Establishment of Cement SP 240 mln SP, the Cotton Establishment SP 210 mln , the Sugar Establishment SP 160 mln, the Establishment of Tobacco 140 million SP and the Food Industries SP 113 mln.

Hilli said that 11 million SP was allocated to the Central Administration, SP 13 mln to the Training Directorate, SP 72 mln to the Industrial Tests and Researches Centre and SP 9 mln to the Standardization and Measuring Commission.

New Enterprises    

 The most important projects to be implemented the next year are a Technical Centre for Textile with a total cost estimated at SP 10 mln, a project for producing and refining olive oil in cooperation between the Food Industries and the Venezuelan side.

The Engineering Establishment is planning to implement five enterprises in 2013. The Solar Energy Project, developing telephone cables, constructing buses and lorries, producing electric meters and producing the components of cars.

The establishment intends to set up the phosphate fertilizer factory in addition to the flat glass project, SP 160 mln allocated to complete the project.

The General Establishment of Cement Industry has an investment plan to complete the economic unity project, whereas SP 8 mln allocated for this purpose.

A project for building Tartous Tobacco new warehouses with an amount estimated at SP 50 mln.

The next investment plan for the Cotton Establishment is to complete the project of training and rehabilitation, the new Raqqa Cotton Grin and setting up a new grin at al Hassaka, Hilli said.

Six new projects at the level of establishments to be implemented the next year, Hilli added.

For its part, Industry Ministry assured that the implementation rate of the investment plans hasn't exceeded 7% of the total investment credits allocated for the current year which estimated at SP 5,3 bln..

Searching for Partnership:       

The Director of the General Establishment of Engineering Industries, Suheil Sa'd, talked about his establishment's plan and the allocated credits for the investment projects estimated at SP 312 mln .

It is worthy noting, that in harmony with the available potentials and the current crisis in Syria, the next phase imposes on all to take interest with the economic question and search for the best means to facilitate setting up and financing investments. This step should be taken in cooperation with the economic and industrial activities to pass private legislations and ensure the legal structure that control partnership to develop national industry including the public, private and joint sectors.



Eastern Mediterranean oil reserves attract world companies to explore Syria's water

Offshore gas and oil reserves in the eastern Mediterranean extending from south occupied Palestine to north Syria were the main topics discussed in several recent reports without referring to official information on the Syrian shore.

Here, we would explain the relation between explorations in the Palestinian  water and Syria's reserves besides the situation according to the Syrian exploration plan and data.

Following positive results of gas exploration reached between 2009-2012 in the eastern Mediterranean (opposite to the Palestinian and Cypriot shores), foreign companies attached great importance to the Syrian regional water.

According to the results, reserves of gas reached up to 800 billion square meter in five sites.

In 2005, Seismic survey was carried out for the Syrian marine area covering 5000 km. The area was divided into three tectonic blocks: Levantine Basin, Raas al-Basit, and Lattakia Basin.

The good quantity of gas in Syria was discovered in the Levantine Basin that extends from south occupied Palestine to Lattakia in north and Cyprus in west. The area of the basin is around 55.000 square kilometer.

The US Geological Researches Commission has estimated the reserves in Levantine Basin at 1.7 bln oil barrels, 122 trillion cubic foot of gas, and 3bln barrels of gas capacitors.

Syria's quota is 300mln oil barrel

The recorded numbers cover the  whole basin's reserves , while Syria's quota is 5.6% of the total area. Thus, we can say the Syrian part includes 225 mln/m2 of gas, and about 300mln oil barrel and gas capacitors.

Regarding Lattakia and Cyprus Basin, indicators show possibility of getting oil rather than gas after drilling for them in north areas.

Syria's Oil Ministry followed up the matter to have an idea about Hydro carbonic reserves, and announced a world drilling tender for four blocks of the area 5000km2  in 2007.

The sole tenderer applied was rejected because of dissenting from booklet of conditions.

The decline of oil prices in 2007-2008 to $49/barrel did not encourage world limited companies to apply for the tender.

By the beginning of 2010, a new booklet of conditions was set, and a new drilling tender for three blocks of the area 9000km2 was published on March, 3,2011. But no one applied due to the crisis Syria is going through.

Basma Qaddour

Cabinet approves new decisions, asserting need for direct communication with citizens

DAMASCUS, (S.T)_The cabinet reviewed on Wednesday current economic and services situation,  recent political development,  and national reconciliation.

As for current situation, Prime Minister asserted the necessity to follow up stages of carrying out service and development projects, and to communicate directly with citizens in all provinces to meet their needs. 

Dr. Wael al-Halaqi called on ministers to increase their visits to all Syrian provinces.

Besides, the cabinet approved a bill stipulated for amending articles No.15 and No.22 from the 2008 decree No.45 on setting up National Center of the Distinguished.

It also accepted the Syrian Commerce Chamber's proposal to postpone the election of he Boards of Directors for a year.

As for implementing agricultural plan, the cabinet endorsed a decision to tabulate due decennial interests on loans included in the article No.1 from the 2012 Law No.27 .

The said decision provides for paying loans by equal installments within 10 years. Due date of the first installment is defined a year following issuance of the relevant law.

It also provides for postponing unpaid due decennial interests to be paid with the first installment until September27, 2013 in accordance with the above mentioned law. 

Moreover, the cabinet called upon Health, Higher Education, Interior and Defense Ministries to meet their needs of medicine and equipment through locally manufactured products and to import other medicine and medical equipment that are not manufactured locally only from friendly countries.

For his part, Deputy Premier for Economic Affairs, Dr. Qadri Jamil, stressed that the economic situation is reassuring, noting the measures being adopted by the government to meet local needs of food stuff and petroleum derivatives.

Industry Minister presented a list of low- price goods produced by local establishments to be offered to the displaced people temporary living in governmental shelters across Syria .

In the other hand, the cabinet hailed the sacrifices of the army and the law-enforcement forces and their achievements on the ground to restore security and stability to Syria.

It underlined the importance of cooperation and unity between all spectrums of the Syrian society and the Armed Forces to confront terrorism .



PM chairs meeting on public and private banks' policies

DAMASCUS, (S.T)_The Monday's cabinet meeting focused on opinions and mechanisms that aims at drawing up directives of banking and economic sectors in the current circumstances.

Topped the meeting's agenda were:economic effect on valid profitrate, and how to benefit from the liquidity available in public banks as regards funding economic projects and imports, as well as improving banking services.

The Central Bank of Syria (CBS) was delegated to amend the decision No.597 related to debts.

Prime Minister, Dr.Wael al-Halaqi ,asserted the importance of integration between all economic sectors to back national economy and confront the ongoing challenges that face Syria.

The meeting's attendees were: Presidency Affairs , Finance, Economy and Foreign Trade Ministers, the Cabinet's Secretary, the CBS's Governor, Premier's Advisor for Banking and Monetary Affairs, public banks' Directors, some private banks' Directors, head of the Planning Commission, head of the Syrian Federation of Chambers of Commerce  and representatives of Damascus Industry Chamber .