Mandalawi stresses the need to reduce dependence on oil wealth imports to finance the budget

Baghdad-INA
First Deputy Speaker of Parliament Mohsen Al-Mandalawi stressed on Monday, the need to reduce dependence on oil wealth imports to finance the budget.

In his speech during the forum held at the (Tulip Al-Rasheed) Hotel in Baghdad, in a statement received by the Iraqi News Agency (INA), Al-Mandalawi called on the government to start finding mechanisms that would reduce dependence on oil export imports to finance the treasury, develop oil industries, and achieve self-sufficiency as soon as possible.

The statement added "the importance of Iraq's oil wealth and the need to reduce dependence on its imports to finance the budget and find real alternatives while seeking to perpetuate Iraqi wealth and benefit from it optimally," noting "the importance of gas and the growing demand for it globally and finding mechanisms to ensure that this wealth that can bring benefits is not wasted enormous amount for the state treasury.”

It continued, "Iraqi production of oil and gas witnessed a remarkable increase after 2003 as part of efforts to restore its position among the list of exporters," stressing "the need to pay attention to the oil industry sector, build oil refineries and industries, operate power plants with local products, stop importing derivatives, and fully secure the needs of the private sector to encourage this sector and create promising job opportunities for our youth.

 
The First Deputy called on "the political forces to resolve all the problems related to this file, so that the parliament can move forward in enacting the long-awaited oil and gas law due to the differences between the region and the center around it," stressing "the determination of the current parliamentary session to pass the aforementioned law in a way that secures A solid legal environment for working and investing in the oil and gas sectors.