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{
    "id": 56286,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/56286/?format=api",
    "text_counter": 254,
    "type": "speech",
    "speaker_name": "Eng. Rege",
    "speaker_title": "",
    "speaker": {
        "id": 135,
        "legal_name": "James Kwanya Rege",
        "slug": "james-rege"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, I beg to second the Motion from the policy point of view. The mandate of the Departmental Committee on Energy, Communication and Information as provided for under the Standing Order No.198(3) is, amongst others, to study the programme and policy objectives on Ministries and departments and the effectiveness of their implementation. It is with these objectives in mind that the Committee approached and scrutinized the Importation of Petroleum Products (Quarter Allocation) Regulations 2010 from the policy point of view. Consistent with the mandate of our Committee, we are of the firm view that the enactment of the Legal Notice No.96 of 2010 that the Importation of Petroleum Products (Quarter Allocation) Regulations 2010 was founded upon sound Government policy consideration geared at achieving public interest objectives of cushioning consumers against ever increasing fuel prices. This view is informed by the following points as contained in our Report:- (i) The objectives of the regulations were to safeguard both the consumers interest, particularly against the predatory fuel pricing and to guarantee security of supply of petroleum in this country. A strong national oil corporation which is 100 per cent state owned is good for the economy. It is such national oil companies that immensely contribute to the economies of their countries just to mention a few; the Malaysian Petronus contributes over 40 per cent of the revenue of the Malaysian Government; Brazilian Petro-Brass accounts for 5 per cent of the Brazilian Gross Domestic Product (GDP), the Indian IRC and South African Petroza accounts for a huge chunk of the country’s GDP. In fact, it is through such strengthening of the national oil companies that such companies have managed to outgrow some of the traditional multinational oil companies and are currently challenging their dominance in the world’s petroleum operations."
}