House to vote today on privatisation of the phosphate company
AMMAN -- The Lower House investigation committee into the privatisation of the phosphate company is expected to present its findings to deputies during today's session.
The committee, according to sources and leaked documents, recommended prosecuting former premier Marouf Bakhit and key members of his first Cabinet, in addition to former Royal Court chief Bassem Awadallah, who has also served as finance minister and planning minister over the past decade.
Parliamentary sources, who spoke on condition of anonymity, told The Jordan Times that the panel, which distributed "classified" copies of the investigation results to House members yesterday, found that there is enough evidence of corruption in the phosphate file to refer the case to the judiciary with a recommendation to prosecute the ministers involved in the case during Bakhit's first government. They include then-ministers of finance, Ziad Fariz, planning, Suhair Al-Ali, justice, Abed Shakhanbeh, and industry and trade, Sharif Zu'bi, along with former finance minister Mohammad Abu Hammour, who headed the higher steering committee overseeing privatisation.
According to the sources, the investigation committee found flaws in the deal, under which a company called KAMIL Holdings Ltd. bought 37 per cent of the government's stake in the Jordan Phosphate Mines Company.
The buyer was reported to be owned by an investment agency affiliated with the Brunei government, but the panel "found that the company was not owned by Brunei".
Another key "flaw" in the case, the sources said, is that when the buyer paid JD78 million for the shares, the company already had financial assets worth JD25 million in the form of cash deposits in local banks.
The panel members cited these "discrepancies" and others to recommend revoking the deal and returning the sold company "to the public".
Citing articles 33 and 117 of the Constitution, the source added that the agreement is "unconstitutional" as it was not approved by Parliament and thus the government can cancel the deal and restore its shares.
According to Paragraph B of Article 33 of the Constitution: "Treaties and agreements which involve financial commitments to the treasury or affect the public or private rights of Jordanians shall not be valid unless approved by the National Assembly."
Article 117 of the Constitution reads: "Any concession granting a right for the exploitation of mines, minerals or public utilities shall be sanctioned by law."
Houprivitisation deal cancelled
The buyer was reported to be owned by a investment agency affiliated with the Brunei government, but the panel "found that the company was not owned by Brunei".
Another key "flaw" in the case, the sources said, is that when the buyer paid JD78 million for the shares, the company already had financial assets worth JD25 million in the form of cash deposits in local banks.
The panel members cited these "discrepancies" and others to recommend revoking the deal and returning the sold company "to the public".
Citing articles 33 and 117 of the Constitution, the source added that the agreement is "unconstitutional" as it was not approved by Parliament and thus the government can cancel the deal and restore its shares.
According to Paragraph B of Article 33 of the Constitution: "Treaties and agreements which involve financial commitments to the treasury or affect the public or private rights of Jordanians shall not be valid unless approved by the National Assembly."
Article 117 of the Constitution reads: "Any concession granting a right for the exploitation of mines, minerals or public utilities shall be sanctioned by law."
© Jordan Times 2012
