Two new deputies of Azerbaijani Labor and Social Protection Minister appointed
The Azerbaijani president signed a decree on the appointment of the two deputy ministers of the Labor and Social Protection of Population, the statement of the ministry said.
Idris Isayev and Metin Karimli are appointed as new deputy ministers.
Azerbaijan creates company on Shah Deniz projects' management and gas delivery to Europe
Azerbaijani President Ilham Aliyev signed a decree establishing a closed joint-stock company (CJSC) for effective management of projects within the second phase of Shah Deniz gas and condensate field's development, expansion of the South Caucasus Pipeline, Trans-Anatolian Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP).
The decree says that given the proposals from the State Commission for effective management of these projects, the State Oil Company of Azerbaijan Republic (SOCAR) will create a closed joint stock company (51 percent state-owned and 49 percent owned by SOCAR) with an authorized capital of $100 million.
SOCAR should also ensure the transfer of shares in projects to the newly created closed joint stock company (CJSC).
State Oil Fund of Azerbaijan (SOFAZ) has been instructed to provide an equity financing for the CJSC, which is under direct state ownership. The funds to be provided to the CJSC for financing the equity will provide a long-term investment on return conditions.
SOFAZ will be represented at the CJSC's Supervisory Board by its representatives, chosen by the State Commission.
The ownership and management of the CJSC's shares, which are directly owned by the state, will be conducted by the Economy and Industry Ministry, while the dividends on those shares will be transferred to SOFAZ.
CJSC's proceeds received from all projects will be transferred to SOFAZ, until all of funds invested in the joint stock company are repaid.
The State Commission has been instructed to settle issues arising out of this decree.
Additional funds allocated for Azerbaijan's Sumgayit city development
President of Azerbaijan Ilham Aliyev signed an Order on extra measures to speed up socio-economic development of the city of Sumgayit.
Under the presidential order, five million manats were allocated from the 2014 Reserve Fund of the President to the Sumgayit Executive Authorities.
Azerbaijan revised excise duty rates on gasoline imports
The Cabinet of Ministers of Azerbaijan made amendments on the excise duty rates of gasoline imported into the country.
According to the decision, the rate of excise duty on motor gasoline with not more than a 95 octane rating (containing lead both below and above 0,013 grams per liter) is set at the level of $1 per ton of fuel. The rate on this type of fuel is valid from Feb. 7 to June 1 this year.
Excise duty on imports of gasoline with octane rating higher than 95, but not more than 98 (containing lead both below and above 0,013 grams per litre) is set at $ 100 per ton. Rate of excise duty on imports of motor gasoline with a 98 octane rating or higher (regardless of lead containing) will be $ 150 per ton. The rate on this type of fuel is valid from Feb.1.
These changes do not apply to imports of jet fuel.
In accordance with another decision of the Cabinet of Ministers the above-mentioned import of fuels was exempted from customs duties.
Baku Metro closed joint-stock company established in Azerbaijan
Azerbaijani President Ilham Aliyev signed a decree on the establishment of the Baku Metro closed joint-stock company.
The closed joint stock company is created on the basis of restructuring the Baku Metro and Azertunelmetrotikinti Company (Azertonnelmetrostroy). It will become the legal successor of the two organisations. It will obtain all rights and duties, as well as the property of Baku Metro and Azertunelmetrotikinti.
The Cabinet of Ministers was instructed to approve the charter and structure of the closed joint stock company and to determine the amount of authorised capital and direction for developing society in an agreement with President Aliyev within two months, according to the decree.
Zaur Huseynov was appointed chairman of the CJSC upon another presidential decree.