Council of Ministers discusses Kurdistan Region Mineral Investment Bill

Erbil, Kurdistan Region (GOV.KRD) - Council of Ministers today held its weekly meeting led by Prime Minister Masrour Barzani.

Opening the meeting, the Council discussed the Kurdistan Region Mineral Investment Bill.

Prime Minister Barzani stressed the importance of the Bill, describing it as a crucial step towards economic diversification and restructuring of investment in the Kurdistan Region’s natural resources in a way that meets international and modern standards. This is of particular importance as currently an outdated Iraqi law from 1988, which does not align with current developments, is still in use.

The Bill is expected to attract foreign investors and, for these reasons, the Council decided to task a special committee with further reviewing the Bill.

Looking onwards, the Council discussed the recent decision by the Council regarding the distribution of kerosene. The Interim Minister of Natural Resources noted that, upon the request of Prime Minister Barzani, the Iraqi Prime Minister has approved the delivery of 50 million liters of kerosene to the Region this month as a first step, and added that the Ministry has taken the necessary measures to deliver kerosene to the Region’s mountainous areas starting from October 20th.

Finally, the Minister of Martyrs and Anfal Affairs briefed the Council on the initiative to pardon families of martyrs and anfals from returning benefits they have received. The Council stressed the Ninth Cabinet’s determination to serve those families and the initiative was subsequently approved by the Council.