The Cabinet decided, Monday, to approve the Oil Ministry's policy to reduce gas flaring in accordance with the specified in the strategic energy goals and the allocation of funds in this regard, and as agreed to form a ministerial committee to prepare a plan to take advantage of gas in power generation, said also agreed on recommendations to improve equal opportunities between the government and private banks.
Information Office of the Prime Minister said in a statement received (range Press), a copy of "The Council of Ministers decided in its meeting held Sunday special session, the approval of the Ministry of Oil policy to reduce gas flaring in accordance with the objectives set in the strategic energy, in addition to the allocation of the necessary funds for this purpose, including the benefit from the World Bank loan for budget support. "
The statement added that "the Council of Ministers approved the formation of a ministerial committee composed of the ministers of oil, finance and electricity shall prepare a plan to take advantage of gas in power generation, as well as to approve the recommendation of the Committee on Economic Affairs to improve equality of opportunity between the government and private banks."
The Commission on oil and energy in the House of Representatives demanded, on Monday, an increase of financial allocations for the electricity sector in the general budget for 2016, which amounted to 9%.
The Iraqi Council of Ministers approved, on Sunday, the financial budget for the coming year 2016, B113 trillion Iraqi dinars and a deficit of 30 trillion dinars.
It is noteworthy that the Ministry of Finance, announced on the 15th of September 2015, the provision of public financial budget for next year 2016, the Council of Ministers, while confirming that the formulation has been lowering overhead and struggling waste in state revenues and diversify sources of national income.
It is noteworthy that Iraq is suffering a severe shortage of electric power since the beginning of 1990, as increased hours of power rationing after 2003 in Baghdad and the provinces, because made a lot of stations, as well as sabotage attacks on vital installations during the past years.
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