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Iraq's oil min. denies rises in prices over privatization

Iraqi oil minister
Iraqi Oil Minister Jabbar Ali al-Luaibi on Wednesday denied any expected rise in oil derivatives prices after privatizing the distribution sector, The Baghdad Post reported Wednesday.

Al-Luaibi said in a press statement that he instructed the concerned departments in the ministry to form a committee to study the privatization of the distribution sector and submit its recommendations within a maximum period of one month.

He added the move seeks to move gradually from the public sector to the private sector, without compromising the rights of the employees of the distribution company, while retaining the responsibility of supervision and control of the distribution sector.

The government and the ministry are keen to maintain government subsidies for oil derivatives prices, while allowing the private sector and specialized companies to compete to provide the best services to citizens, the statement read.
Last Modified: Wednesday، 07 June 2017 07:36 PM
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