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Discussing a Petroleum Fund for Timor-Leste October - December 2004 Direct link to La'o Hamutuk Submission on Petroleum Fund Discussion Paper, December 2004Direct link to La'o Hamutuk Submission on draft Petroleum Fund Act, March 2005Direct links to 2005 debate and passage of the final Petroleum Fund Act, June 2005 Direct link to information on Petroleum Fund operations after establishment in September 2005 Background In October 2004, the Timor-Leste government's Ministry of Planning and Finance released a Public Consultation Discussion Paper on Establishing a Petroleum Fund for Timor Leste. (Portuguese, Tetum). They also announced a public consultation process on the ideas discussed in the paper. On 16 November 2004, a half-day public meeting was held at CAVR in Dili, with presentations by the Prime Minister, the Finance Minister, and the General Manager of the Banking and Payments Authority. Here are the slides from the presentation in English or Portuguese. People were invited to make written submissions to the Petroleum Fund Steering Committee by the end of November. La'o Hamutuk made a submission (also as PDF in English or Portuguese), as did some other organizations. La'o Hamutuk's submission refers to the following documents, in addition to the first two other submissions listed below: From La'o Hamutuk From the Government of RDTL
From the Government of Norway and Norges Bank
From advisors to and the government of São Tomé e Príncipe
Regarding petroleum supply and prices (these link to the Internet)
Regarding the stability of the United States dollar
Submissions by other organizations
Law drafted, debated, amended and enacted. In January 2005, the Ministry of Planning and Finance released a draft Petroleum Fund Act in English, Portuguese and Tetum. A series of public consultations were held, submissions were accepted, and the law was passed in June The Petroleum Fund came into being in September, 2005. Follow this link for details and documents relating to further discussion and passage of the Petroleum Fund Draft Act in 2005. All pages linked to by this page are English unless otherwise specified. Many of the documents are in Adobe Acrobat format (PDF) and may require Adobe Acrobat Reader. |
The Timor-Leste Institute for Development Monitoring and Analysis (La’o Hamutuk) |