Monday, December 11, 2006
Govt to allocate 30 per cent of oil income to Iraqis
Economy
The Iraqi government to allocate 30% of its oil income to the people. Some Iraqi parliament members are proposing a project that would require the Iraqi government to allocate 30% of its oil income to the people, local media reported. "The basics of this project will be discussed with the Minister of Planning and the chairman of parliament's Economic Committee. It is expected to be submitted before parliament prior to the end of this year," Noraddin Al Hayali from the Iraqi Accord List said. According to economists, annual income in Iraq from oil is more than $30 billion. The project being proposed by the parliament members requests that $10 billion be distributed to the people.
