Treasury and welfare programs to receive USD 60 billion from Pdvsa
USD 15.5 billion has been transferred to Fonden in 2012
Contributions made by Venezuela's state-owned oil company Pdvsa to the treasury and welfare programs total USD 60.3 billion in 2012.
Oil price, averaging USD 100 per barrel this year, has yielded higher income for the oil company, and particularly for the different mechanisms controlled by the Executive Office.
Rafael Ramírez, Minister of Petroleum and Mining and president of Pdvsa, informed on Wednesday the members of the National Assembly Finance Committee about the total funds to be provided by the oil company. During his presentation, he elaborated on the contributions to welfare programs.
Out of the total amount of money the Government will be receiving from Pdvsa, some 26% will be allocated to the National Development Fund (Fonden).
The oil minister stated that Fonden got USD 14.2 billion from Pdvsa in 2011, and as much as USD 15.2 billion will be given in 2012, therefore contributions will be increasing by 11%.
Pdvsa's contributions to Fonden derive from oil windfalls. Ramírez pointed out that Fonden has received from Pdvsa USD 59.3 billion since 2005.
Translated by Jhean Cabrera
Pablo Jiménez Guaricuco was summarily dismissed from his Clerk III job at the Autonomous Service of Public Registries and Notaries' Offices (Saren). He read a notice published in a newspaper on November 5 informing the public that he was no longer employed to the Saren. He was sacked despite the fact that he was taking a leave of absence from work due to a work-related accident, and that he enjoyed security of employment under the parental job-immunity privilege. Most probably, the decision was influenced by his role as a union organizer. But what did he do, besides leading protests, to deserve the sack? Well, he allegedly sent off a series of tweets that definitely hurt the sensitivity of the Saren Directorate.