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(adsbygoogle = window.adsbygoogle || []).push({}); Provisions of article 66, Finance Act 2016 not to apply to strategic companies - Algeria latest news

SETIF- The article 66 and the Finance Act 2016, which was passed by the two houses of the Parliament, will not apply to the national strategic companies, said Prime Minister Abdelmalek Sellal Saturday in Setif (300-km east of Algiers).

"The article 66 and the Finance Act 2016 will strengthen the public sector, and will not apply to national strategic companies like SONATRACH (national hydrocarbon company)," said Sellal while inaugurating an aluminium and copper extrusion plant in the commune of El Eulma, as part of his working visit to the eastern province.

The Premier underlined that the article 71 of the Finance Act 2016 is a "technical and financial" tool, adding that the State is "pragmatic" and "when a company manage to generate profits and create jobs, it would benefit all the country," he explained.

In this regard, Sellal reiterated the State's commitment to "encourage national and foreign investors, in accordance with the 51/49 rule."

Tag(s) : #Economy

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