MP: Iraq is losing daily fifty million dollars due to a failure to approve oil and gas law
MP: Iraq is losing daily fifty million dollars due to a failure to approve oil and gas law
Saturday, March 23, 2013 – 11:02 AM
Said the decision of the Commission of Economy and Investment parliamentary Mahma Khalil non-enactment of the oil and gas so far has cost Iraq millions of dollars of losses.
Khalil said in a statement to Radio tow that “Iraq is losing daily between forty to fifty million dollars as a result of lack of legislation that law,” noting that the economic policy which he described as a failure of Iraq and the lack of consensus between the political blocs as a whole led to the loss of a lot of investment.
The excluded member of the Commission on oil and energy parliamentary Susan Saad in an earlier statement to the radio in tow pass the law of oil and gas in the House of Representatives after approving the budget because of the different political visions about the enactment of this Act.
Saad said, “The Committee of Five of the problem to approve oil and gas law met only once since more than two months,” pointing out that “pass the oil law at the moment, it is difficult in light of the political tension between the province and the center.”
She added that “the enactment of the oil and gas is important, because it will support the oil sector and allow a bunch of laws legislation stalled in the House of Representatives on oil and gas.”
Saad explained that “there are three drafts of the oil and gas law in the House of Representatives is not agreed to pass one of them to the Council for a vote.”
He noted that “the Act and by the Council of Ministers indicates that the ownership of the oil and gas in Iraq for all the people in all regions and provinces, and control of oil and gas to ensure equitable distribution of their resources between people, in addition to the the federal government to the management and development of petroleum resources in order to achieve the national interest in any phase of the petroleum operations through formations and bodies contained in the law. ”
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