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Iraqi Parliament discusses oil investment
draft law
7.2.2007
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BAGHDAD, February
7,-- The Iraqi parliament discussed on Wednesday a
draft law for investment in crude oil refining
sector and passed a law to set up three more
universities in Iraq.
A first reading of an oil investment draft law was
made during the Iraqi parliament Wednesday's session
which was chaired by Speaker Dr. Mahmoud al-Mashhadani.
The draft law allows Iraqi and foreign investors to
build, operate and transfer oil refineries in the
oil-rich-country in a bid to encourage the private
sector's back-up of the Iraqi infrastructure.
The new law, if passed, gives investors a right to
produce oil derivatives for local consumption or for
export at prices never dictated by government.
The Iraqi lawmakers also voted in favor of a new Act
to set up three more universities in Iraq, one in
Baghdad and two more in the southern provinces of
Missan and al-Muthanna.
Today's session also saw a first reading of a
controversial draft law regulating up to three
provinces joining of a region.
The 50-article proposed law would allow up to three
provinces out of 18 the formation of a region with
specific powers to each constituent province.
As soon as the provinces draft law first reading was
over, Speaker al-Mashhadani ordered all media out of
session for "the sensitivity of points that could be
raised by legislators on the draft law."
Iraq has now only one
region for the Kurds in north of the country. Iraq's
Kurdistan region enjoys local government, powers,
House and security forces but it is linked to the
federal government in Baghdad
VOI
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