June 2, 2023

The National Front for Rescue of a Moroccan Oil Refinery (Samir) is considering working with the Moroccan Capital Market and Banking Authority to open a public offering to acquire the assets of a company that has been dormant since 2015 and is subject to liquidation proceedings as of today.

The front, which includes workers, trade unionists, parliamentarians, politicians, lawyers and jurists defending the oil refinery in Mohammedia, said it had decided to explore the possibility of opening this subscription for the benefit of individuals and entities inside and outside Morocco.

The aim of this move is to acquire the assets of the company, clearing debts and mortgages after the approval of the Moroccan Capital Market Authority and major banks, Attijariwafa Bank, Banque Centrale Populaire and Bank of Africa.

According to what Hespress knows, the set-up will soon set up a company made up of its members and seek approval from the Moroccan Capital Market Authority.

And Front said in a press release obtained by Hespress that “the move comes after the failed judicial transfer of Samir’s assets 7 years ago and the current and previous government’s refusal to discuss the proposed law. aimed at transferring to the expense of the state, not to mention the non-implementation of the decisions previously proposed by the Front”, including those facilitating the transfer to private or free administration”.

The steps announced by the Front also include working with the Moroccan Association for the Defense of Public Money to file a complaint with the relevant authorities to address the suspicion of squandering public money in debt to the Samir company.

According to what is stated in the statement, “the waste and loss of public money in debt to the company, mainly the loan of possession of tax levied on taxpayers without timely transfer of it to the state treasury, requires the opening of an extensive investigation for prosecution. all those involved in Morocco and beyond.”

The Front categorizes those responsible for this case as “all government and administrative officials who were involved in this situation through their mistakes, silence, complicity or fraud before and after the privatization of the company on behalf of the Swedish Coral Group”, owned by Muhammad Hussein Al-Amoumi, a Saudi businessman of the Ethiopian origin, in 1997.

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