05 Nov 2009 - by PreSalt.com - Source: Agência Brasil
The royalties of the blocks of the pre-salt that had already been tendered, which ends on December 31 this year, will be fully sovereign for the Social Fund in Brazil. This was one of the changes that the rapporteur of the committee that analyzes the project, Mr Antonio Palocci (PT) made to secure the resources initials to the fund. "Otherwise we will take many years to begin to capitalize the fund. Then we use a font that is already bid, is already generating resources, "he said.
The allocation of royalties from the licensed blocks after December 31 will be defined in the project of exploration and production that is being examined by the special committee that examines the sharing model, according Palocci. According to the rapporteur, when the operation of the pre-salt actually start, all remuneration of the sharing scheme will be for the fund, making it less important to use the royalties and special contributions for the capitalization of the fund.
The initial resources of the Social Fund only be used by the Executive Branch provided if a bill is sent to Congress regulating the use of resources without harming its capitalization..In the previous text, presented by Palocci, the use of money from the fund could only be done in the first five years.
Now, the text of the report says that it can be done in the initial phase, as determined by the bill of the Executive. Another amendment sought by the rapporteur was to specify that the allocation for science and technology should be used primarily in research to develop renewable energy sources.
Palocci believed that the proposals made by Members, so that the Fund's resources are directed to sectors such as Social Security, public safety, national defense, not included in the report, should return to discussion during the vote on the bill in the House of Representatives
"The most central issues that should have been included would be the health and regionalization of the investments. This was granted. Now there is a legitimate wish of some sectors to address other areas, it should be back on the floor, "said the rapporteur. According to Palocci, is all set for the vote takes place next Tuesday (10).
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