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Shahmar Movsumov: â€œSOFAZâ€™s each manat is controlledâ€

27 January 2011 15:43 (UTC +04:00)

Baku. Ali Ahmedov â€“ APA-Economics. The information which released in press about the non-transparently activity of SOCAR is not true, SOFAZ Executive Director Shahmar Movsumov told at the press conference.

According to him, the fund has control functions on implemented projects: â€œEach expenditure from SOFAZ is conducted in accordance to the existing legislationâ€.

He also noted that, the information is not true that the fund conducts the means out of State Treasury or Accounting Chamber canâ€™t control its activity: â€œEvery manat spending from State Fund is conducted in accordance to the state treasury and of course, the state treasury controls it. Accounting Chamber is the Supreme Financial Authority and it can control any state expenditures and it does it successfullyâ€.

He noted that, SOFAZ had passed the Accounting Chamberâ€™s audit and no any shortage was observed in it. According to Accounting Chamber can control any project which financed by SOFAZ.