SSIF CEO says gov’t committed to repaying debts

Social Security Investment Fund. (File photo: Jordan News)
AMMAN — The government continues to repay its debts to the Social Security Investment Fund (SSIF), depositing the payments directly into the fund’s account with the Central Bank of Jordan, SSIF CEO Kholoud Saqqaf was quoted by the Jordan News Agency, Petra, as saying on Sunday.اضافة اعلان

At a meeting with the Lower House’s Economy and Investment Committee, Saqqaf said that as of June 30, the SSIF’s assets totaled JD13.3 billion and its profits stood at JD371 million.

The fund acquired 30,000 dunums with 12 artesian wells; 8,000 dunums will be planted as part of the first phase of the project, Saqqaf said, adding that the land will be used for the cultivation of wheat, barley, and livestock feed in the Al-Mudawara region in the south. Each dunum yielded 450kg of the “finest” seeds, and there will be another harvest in September of this year, Saqqaf said, adding that the project has so far cost only JD6 million. She assured the committee that the project does not compete with small farmers.

She also informed legislators that the SSIF is a shareholder in 12 local banks and that it has 16 percent ownership stakes in Jordan Phosphate Mines Company and 10 percent in Arab Potash Company.

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