Mr. Noman Tahir Al-Suhaibi,
Minister of Finance
Subject: Withdrawal of the amount of one hundred and fifty million dollars from the account of the Yemen Company for Investment in Oil & Minerals (YICOM)
Referring to the above subject, and letter number (110-224) on 26/03/2011 on the withdrawal of the amount of one hundred and fifty million dollars from the account of the Yemen Company for Investment in Oil & Minerals. Please note that we did not accept the withdraw of the above amount and we confirm that it is the right of the government, represented by the Ministry of Finance to withdraw any funds from any government institution only if necessary, and only if the amount is not used for the purposes of the corporation's activities. The decision was presented by the Ministry of Finance without coordination with the Yemen Company for Investment in Oil & Minerals of the amount that is required for the operations by the company and what is the surplus that can be used. It was rejected because it was against what the ministerial committee discussed under the chairman, Mr. Sadeq Ameen Aburas, deputy Prime Minister.
Minister of Petroleum and Minerals government,
Ameer Salim Al-Aydarous