Swapo MPs defend petroleum bill
Swapo members of parliament (MPs) have defended the oil and gas bill, saying it ensures that the benefits of resource development contribute to inclusive economic growth and long-term national capacity. Agriculture, water, fisheries and land reform deputy minister Ruthy Masake said in the National Assembly on Thursday that since the bill’s emphasis is on local […] The post Swapo MPs defend petroleum bill appeared first on The Namibian.
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Swapo members of parliament (MPs) have defended the oil and gas bill, saying it ensures that the benefits of resource development contribute to inclusive economic growth and long-term national capacity.
Agriculture, water, fisheries and land reform deputy minister Ruthy Masake said in the National Assembly on Thursday that since the bill’s emphasis is on local content, skills development and Namibian participation, it enforces transparency and accountability.
“This bill supports a development path in which natural resource extraction coexists with environmental protection and social responsibility.
This bill is not only about the petroleum sector. It is about building a capable state, strengthening institutions and ensuring that the exploitation of our natural resources translates into long-term benefits for all Namibians, today and for future generations,” she said.
Masake said from a water resources perspective, petroleum operations must be carefully regulated to prevent contamination and ensure sustainable use of scarce water resources.
Defence deputy minister Charles Mubita remarked: “You must understand that the reason why Swapo got more votes in the election is because people have entrusted the Swapo government to run the resources and the president is doing so.”
Independent Patriots for Change (IPC) member Nelson Kalangula, during his contribution to the discussion of the bill, said the proposed law requires any remission or refund of petroleum royalties to be reported to parliament by 30 June annually.
“The bill expands conflict of interest rules. Senior officials in the Ustream Petroleum Unit (UPU) are barred from holding financial interests in licence-holding companies, with criminal penalties [N$20 000 penalty fee or imprisonment for a period not exceeding five years, or both] for violations,” he said.
Kalangula said the N$20 000 penalty fee is a joke for a billion-dollar industry that holds the possibility of kickbacks of millions of dollars through proxies.
The post Swapo MPs defend petroleum bill appeared first on The Namibian.
