Cabinet adopts vital economic decisions

King Abdullah

JEDDAH: The Council of Ministers yesterday passed the bylaws regulating companies under mayoralties as well as the bylaws of the new Radio and Television Corporation.

It also allocated SR 1.4 billion for the development of Oqair region for tourism purposes.The Cabinet, which was chaired by Custodian of the Two Holy Mosques King Abdullah at Al-Salam Palace, reviewed a number of reports on regional, Arab and international developments, including a report on the situation in occupied Palestinian territories and the continuing acts of killings, violence and carnage in Syria.The Cabinet denounced Israel’s orchestrated practices aimed at changing the geographic and demographic statuesque of Jerusalem and its ongoing violations of international law, its continuing settlement program and blockade imposed on Palestinian people throughout occupied territories.

The Cabinet emphasized the importance of unifying international efforts to provide the Palestinian people with protection and end all Israeli atrocities against them, said Culture and Information Minister Dr. Abdul Aziz Khoja.The Cabinet also warned against deteriorating situation in Syria on the backdrop of carnage, killings, violence and increasing number of the displaced, demanding the international community to shoulder its responsibilities to put an end to the ongoing brutal oppressive practices of the regime against its people.

The Cabinet commended the great response by Saudi citizens and expatriates to the National Campaign to raise funds to support Syrians on the directives of King Abdullah, and expressed hope that such a campaign would give a hand to meet the basic needs of the Syrian people and mitigate their sufferings.The Cabinet was briefed by Interior Minister Prince Ahmad on the results of the 19th annual meeting of regional governors in Jeddah. He said the governors’ would follow the king’s directives to serve citizens and meet their needs.

The Cabinet agreed to lift the tariff on Palestinian imports as the state would bear the customs duties of Palestinian goods for another year beginning from 11/09/1433H.The Cabinet approved a memorandum of understanding on cooperation in the exchange of information relevant to money laundering and terror financing between the Saudi Financial Investigation Unit (SFIU) of the Ministry of Interior and the Financial Crimes Enforcement Network in the United States, which was signed on 12/07/2011.

The Cabinet approved a memorandum of understanding on exchanging information and investigations relating to money laundering and terror financing between SFIU and the Financial Investigation Unit of the Serious Organized Crime Agency (UK Financial Investigation Unit), which was signed on 12/07/2011.The Cabinet approved, in principle, to allocate a financial support for the implementation of the basic requirements at the circumference of Al-Oqair Project Site.

The financial support amounts to SR 1.4 billion; of which SR 1 billion will be appropriated for the delivery of necessary power and SR 400 million for the provision of water and sanitation. The Ministry of Water and Electricity shall conduct all technical studies for the project to determine the final cost, and shall coordinate with the Ministry of Finance for approval of the project’s budget.The Cabinet approved the laws of the Radio and Television Corporation. It also approved the system for the Saudi Press Agency. – Arabnews