Complementary Finance Act to be turned into draft law instead of presidential ordinance

The Complementary Finance Act 2011 can be promulgated as a draft bill for the first time for more than ten years, president of the finance commission at the People’s National Assembly (APN) Mohamed Kenai said Saturday.

• This will enable members of Parliament to discuss the law while their role was limited in adoption only.
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• “Members of Parliament have protested against the lack of important measures in the ordinary finance act. The Complementary Finance Act has the lion’s share regarding those measures including the ban of consumption loans and partnership with foreign investors,” Mohamed Kenai told Echorouk.
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• “That deprived people’s representatives of discussing the law to reach a common agreement,” he added.
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• Sources at Parliament said the new step comes as part of the political reforms announced by Algerian President Bouteflika. He seeks to reactivate the role of the State’s institutions.
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• Many ministers have postponed the disclosure of important decisions as they wait for the promulgation of the Complementary Finance Act. They avoid passing by the finance commission to examine the decisions. Discussion in plenary sessions has become a formal procedure without any importance as voting will be in favor of the law at the end.