Economy News – Baghdad
On Tuesday, the Cabinet made a significant decision to initiate the first phase of the Maysan refinery development project.
According to a statement from the Prime Minister’s Media Office, the meeting, chaired by Prime Minister Mohammed Shia Sudani, was the ninth regular session of the Council of Ministers.
The session addressed key developments within the country, focusing on critical files, the progress of governmental programs, and discussions surrounding agenda topics, leading to necessary decisions.
The Council of Ministers approved a series of resolutions concerning the Maysan refinery development project, which include:
- Commencing the first phase of development immediately.
- Establishing a national effort team, led by the Undersecretary for liquidation affairs, to oversee the unit and entrust them with necessary financial and administrative powers.
- Exempting the project from the directives governing government contracts (2 of 2014) and any subsequent replacements and standard documents.
- Exempting the project from Article (7) of the instructions (1 of 2023) which facilitates the implementation of the Federal Public Budget Law for the years (2023).
- Empowering the team mentioned in point two with authority to select and negotiate with manufacturers, ensuring that the general manager of the Southern Refineries Company carries out referrals and contracts according to their contractual and financial capacities.
- Funding the project through the operational budget of the Southern Refineries Company.
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