Petroleum Fund Consultative Council

Petroleum Fund Consultative Council

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The Petroleum Fund Consultative Council (PFCC) is established by the Petroleum Fund law. The PFCC provides advice and oversight to National Parliament on matters relating to the Petroleum Fund. When advising Parliament, the PFCC takes into account the overall objective that the Petroleum Fund as a fund of income from the exploitation of non-renewable petroleum resources for the benefit of current and future generations.

For the purpose of advising Parliament, the PFCC consults widely in the community and, to this end, holds annual forums on issues relating to the Petroleum Fund.

PFCC Members

Members of the PFCC include former Presidents of the Republic, former Speakers of the Parliament, former Prime Ministers, former Ministers in charge of finance, former Governors of the Central Bank, two members appointed by Parliament, two members appointed to represent civil society non-profit organisations, a member appointed to represent the private business sector, and a member appointed to represent religious organisations.

The President of the Republic, the President of Parliament, and the Prime Minister, respectively, appoint members to fill vacancies if no appointment is made for former Presidents of the Republic, Speakers of Parliament, Prime Ministers and Ministers in charge of finance.

The tenure of the PFCC members is 5 years non-renewable. For the details of the PFCC roles, please see the Petroleum Fund law

The current members of the PFCC are:

  • Pe. Julio Crispim Ximenes Belo
  • Rui Meneses da Costa
  • Zelia Fernandes
  • Julio Fernandes
  • Jose Augusto Fernandes Teixeira

                                                                                                                                        Updated; 28 Septermber 2017